SecureWorks (NASDAQ:SCWX) Sees Strong Trading Volume

Shares of SecureWorks Corp. (NASDAQ:SCWX) saw an uptick in trading volume on Monday . 111,034 shares changed hands during trading, an increase of 257% from the previous session’s volume of 31,112 shares.The stock last traded at $5.88 and had previously closed at $6.00.

SecureWorks Trading Down 2.2 %

The stock has a 50 day simple moving average of $6.31 and a 200 day simple moving average of $6.38. The stock has a market cap of $518.24 million, a P/E ratio of -5.94 and a beta of 0.99.

SecureWorks (NASDAQ:SCWX) last released its quarterly earnings data on Thursday, March 14th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.13. SecureWorks had a negative return on equity of 9.56% and a negative net margin of 23.52%. Equities analysts anticipate that SecureWorks Corp. will post -0.25 earnings per share for the current year.

Insider Activity at SecureWorks

In other news, major shareholder Neil Gagnon acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were acquired at an average price of $6.80 per share, for a total transaction of $34,000.00. Following the completion of the purchase, the insider now owns 590,194 shares in the company, valued at $4,013,319.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 24,584 shares of company stock valued at $155,536 in the last three months. Corporate insiders own 83.10% of the company’s stock.

Hedge Funds Weigh In On SecureWorks

Hedge funds have recently made changes to their positions in the business. Horrell Capital Management Inc. lifted its holdings in shares of SecureWorks by 0.3% during the first quarter. Horrell Capital Management Inc. now owns 582,878 shares of the technology company’s stock valued at $3,917,000 after purchasing an additional 2,000 shares in the last quarter. Kovack Advisors Inc. raised its stake in shares of SecureWorks by 55.4% in the first quarter. Kovack Advisors Inc. now owns 207,400 shares of the technology company’s stock worth $1,394,000 after buying an additional 73,900 shares during the period. Palogic Value Management L.P. raised its stake in shares of SecureWorks by 2.7% in the fourth quarter. Palogic Value Management L.P. now owns 243,000 shares of the technology company’s stock worth $1,793,000 after buying an additional 6,497 shares during the period. Scalar Gauge Management LLC purchased a new stake in shares of SecureWorks during the fourth quarter worth about $1,816,000. Finally, First Eagle Investment Management LLC grew its position in shares of SecureWorks by 4.2% during the fourth quarter. First Eagle Investment Management LLC now owns 878,177 shares of the technology company’s stock worth $6,481,000 after purchasing an additional 35,044 shares in the last quarter. 14.38% of the stock is owned by hedge funds and other institutional investors.

SecureWorks Company Profile

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.