Short Interest in Secureworks Corp (NASDAQ:SCWX) Expands By 11.8%

Secureworks Corp (NASDAQ:SCWX) was the recipient of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,520,000 shares, a growth of 11.8% from the December 15th total of 1,360,000 shares. Approximately 20.7% of the shares of the company are sold short. Based on an average daily trading volume, of 194,400 shares, the short-interest ratio is currently 7.8 days.

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC boosted its position in Secureworks by 1,276.0% during the 3rd quarter. Millennium Management LLC now owns 114,069 shares of the technology company’s stock worth $1,474,000 after acquiring an additional 123,769 shares during the period. State Street Corp lifted its holdings in shares of Secureworks by 0.9% during the 3rd quarter. State Street Corp now owns 150,987 shares of the technology company’s stock valued at $1,952,000 after buying an additional 1,282 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Secureworks by 12.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 94,985 shares of the technology company’s stock valued at $1,228,000 after buying an additional 10,593 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Secureworks by 5.8% during the 3rd quarter. California Public Employees Retirement System now owns 36,500 shares of the technology company’s stock valued at $472,000 after buying an additional 2,000 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Secureworks by 6.6% during the 3rd quarter. Rhumbline Advisers now owns 16,213 shares of the technology company’s stock valued at $210,000 after buying an additional 1,006 shares during the last quarter. 10.00% of the stock is currently owned by institutional investors.

NASDAQ SCWX traded down $0.10 during trading hours on Thursday, hitting $16.72. The company had a trading volume of 2,912 shares, compared to its average volume of 194,959. Secureworks has a fifty-two week low of $10.37 and a fifty-two week high of $24.91. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.04. The business has a fifty day simple moving average of $15.02 and a 200-day simple moving average of $12.96. The firm has a market cap of $1.37 billion, a P/E ratio of -104.31 and a beta of 1.23.

Secureworks (NASDAQ:SCWX) last issued its earnings results on Thursday, December 5th. The technology company reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. Secureworks had a negative return on equity of 2.39% and a negative net margin of 7.06%. The firm had revenue of $141.33 million for the quarter, compared to analyst estimates of $136.12 million. During the same period last year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts forecast that Secureworks will post -0.26 EPS for the current fiscal year.

SCWX has been the topic of several analyst reports. Goldman Sachs Group reaffirmed a “sell” rating and issued a $13.00 target price on shares of Secureworks in a research report on Tuesday, December 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Secureworks in a research report on Monday, December 9th. Zacks Investment Research raised Secureworks from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Thursday, December 12th. BidaskClub lowered Secureworks from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 14th. Finally, ValuEngine raised Secureworks from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Four research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Secureworks presently has an average rating of “Hold” and an average target price of $13.70.

Secureworks Company Profile

SecureWorks Corp., a cybersecurity company, provides an integrated suite of intelligence-driven information security solutions focused on protecting organizations worldwide. The company's solutions include managed security, threat intelligence, security and risk consulting, and incident response.

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