Secureworks Corp (NASDAQ:SCWX) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 2,376,700 shares, a decline of 6.5% from the July 31st total of 2,543,200 shares. Approximately 30.1% of the company’s stock are short sold. Based on an average daily volume of 198,500 shares, the short-interest ratio is presently 12.0 days.

Several equities research analysts recently issued reports on SCWX shares. Zacks Investment Research raised shares of Secureworks from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Thursday. Morgan Stanley set a $14.00 price objective on shares of Secureworks and gave the company a “hold” rating in a research note on Thursday, June 6th. TheStreet lowered shares of Secureworks from a “c-” rating to a “d+” rating in a research note on Wednesday, August 7th. Barclays reaffirmed a “sell” rating and issued a $13.00 price objective on shares of Secureworks in a research note on Thursday, June 6th. Finally, BidaskClub raised shares of Secureworks from a “sell” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.08.

Secureworks stock traded down $0.37 on Friday, reaching $14.01. 19,491 shares of the stock were exchanged, compared to its average volume of 109,924. The stock has a market cap of $1.17 billion, a PE ratio of -87.56 and a beta of 1.12. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. Secureworks has a twelve month low of $10.37 and a twelve month high of $24.91. The firm has a fifty day moving average price of $11.99 and a two-hundred day moving average price of $15.51.

Secureworks (NASDAQ:SCWX) last released its earnings results on Thursday, September 5th. The technology company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.09. The firm had revenue of $136.60 million during the quarter, compared to analyst estimates of $133.02 million. Secureworks had a negative net margin of 6.38% and a negative return on equity of 1.61%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) EPS. Equities analysts anticipate that Secureworks will post -0.3 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. ETF Managers Group LLC lifted its position in Secureworks by 51.2% during the 2nd quarter. ETF Managers Group LLC now owns 988,476 shares of the technology company’s stock worth $13,196,000 after acquiring an additional 334,525 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Secureworks by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 651,979 shares of the technology company’s stock worth $8,665,000 after purchasing an additional 4,384 shares during the period. BlackRock Inc. increased its holdings in shares of Secureworks by 5.8% during the 2nd quarter. BlackRock Inc. now owns 628,892 shares of the technology company’s stock worth $8,359,000 after purchasing an additional 34,404 shares during the period. Spark Investment Management LLC increased its holdings in shares of Secureworks by 147.5% during the 1st quarter. Spark Investment Management LLC now owns 201,900 shares of the technology company’s stock worth $3,714,000 after purchasing an additional 120,335 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Secureworks by 15.1% during the 2nd quarter. Wells Fargo & Company MN now owns 199,566 shares of the technology company’s stock worth $2,652,000 after purchasing an additional 26,251 shares during the period. 10.65% of the stock is owned by hedge funds and other institutional investors.

About Secureworks

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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