SecureWorks (NASDAQ:SCWX) Coverage Initiated at StockNews.com

Analysts at StockNews.com started coverage on shares of SecureWorks (NASDAQ:SCWX) in a report issued on Wednesday. The firm set a “hold” rating on the technology company’s stock.

SecureWorks Price Performance

Shares of SCWX stock opened at $8.51 on Wednesday. The firm’s 50-day simple moving average is $8.51 and its 200-day simple moving average is $8.40. SecureWorks has a 1-year low of $5.61 and a 1-year high of $9.76. The firm has a market cap of $755.94 million, a P/E ratio of -8.60 and a beta of 0.94.

Hedge Funds Weigh In On SecureWorks

A number of hedge funds have recently made changes to their positions in the stock. Gardner Lewis Asset Management L P acquired a new stake in shares of SecureWorks during the 4th quarter worth $10,795,000. FIL Ltd acquired a new stake in SecureWorks during the fourth quarter worth about $6,392,000. Alpine Associates Management Inc. acquired a new stake in SecureWorks during the fourth quarter worth about $5,273,000. Alberta Investment Management Corp purchased a new position in shares of SecureWorks in the 4th quarter worth about $5,076,000. Finally, Nexpoint Asset Management L.P. acquired a new position in shares of SecureWorks in the 4th quarter valued at about $4,395,000. Institutional investors and hedge funds own 14.38% of the company’s stock.

About SecureWorks

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 penetration testing services.