SecureWorks Corp. (NASDAQ:SCWX) Short Interest Update

SecureWorks Corp. (NASDAQ:SCWXGet Rating) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 276,800 shares, a drop of 54.4% from the March 15th total of 607,500 shares. Approximately 2.9% of the company’s stock are short sold. Based on an average daily volume of 169,800 shares, the short-interest ratio is currently 1.6 days.

In related news, CFO Paul Parrish purchased 5,000 shares of the firm’s stock in a transaction dated Friday, March 18th. The stock was acquired at an average price of $11.19 per share, with a total value of $55,950.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Wendy Thomas purchased 3,000 shares of the firm’s stock in a transaction dated Monday, March 21st. The shares were bought at an average cost of $11.89 per share, with a total value of $35,670.00. The disclosure for this purchase can be found here. Insiders have bought 15,205 shares of company stock worth $175,199 in the last quarter. Insiders own 86.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SCWX. Acadian Asset Management LLC acquired a new position in SecureWorks in the 4th quarter valued at $28,000. Barclays PLC raised its holdings in SecureWorks by 223.0% in the 3rd quarter. Barclays PLC now owns 4,079 shares of the technology company’s stock valued at $81,000 after acquiring an additional 2,816 shares in the last quarter. SG Americas Securities LLC acquired a new position in SecureWorks in the 3rd quarter valued at $135,000. Hudson Bay Capital Management LP acquired a new position in SecureWorks in the 3rd quarter valued at $225,000. Finally, Panagora Asset Management Inc. acquired a new position in SecureWorks in the 4th quarter valued at $266,000. 13.37% of the stock is owned by institutional investors and hedge funds.

SCWX traded down $0.17 during trading on Friday, reaching $13.24. The company had a trading volume of 41,404 shares, compared to its average volume of 258,068. SecureWorks has a 12-month low of $10.05 and a 12-month high of $26.89. The company has a market cap of $1.12 billion, a price-to-earnings ratio of -27.58 and a beta of 0.94. The firm’s 50-day simple moving average is $13.70 and its 200 day simple moving average is $16.08.

SecureWorks (NASDAQ:SCWXGet Rating) last released its quarterly earnings data on Thursday, March 17th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.11. SecureWorks had a negative return on equity of 2.38% and a negative net margin of 7.43%. The company had revenue of $127.90 million during the quarter, compared to analysts’ expectations of $128.85 million. During the same period last year, the firm posted ($0.06) earnings per share. The business’s revenue was down 8.4% on a year-over-year basis. Analysts anticipate that SecureWorks will post -1.01 earnings per share for the current fiscal year.

SCWX has been the subject of a number of research reports. The Goldman Sachs Group decreased their price objective on shares of SecureWorks from $14.00 to $12.00 and set a “sell” rating for the company in a report on Monday, March 21st. Morgan Stanley cut their target price on SecureWorks from $16.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, March 21st. Zacks Investment Research cut SecureWorks from a “hold” rating to a “sell” rating in a research note on Thursday, February 3rd. JPMorgan Chase & Co. cut their target price on SecureWorks from $19.50 to $16.00 and set an “underweight” rating on the stock in a research note on Friday, March 18th. Finally, StockNews.com assumed coverage on SecureWorks in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.17.

SecureWorks Company Profile (Get Rating)

SecureWorks Corp., through its subsidiaries, provides technology-driven information security solutions for protecting its customers in the United States and internationally. The company's solutions include software-as-a-service solutions, managed security services, and professional services, including incident response and security risk consulting services.

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