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

Equities researchers at StockNews.com initiated coverage on shares of SecureWorks (NASDAQ:SCWX) in a report released on Monday. The firm set a “hold” rating on the technology company’s stock.

SecureWorks Stock Performance

SCWX stock opened at $8.51 on Monday. SecureWorks has a 12-month low of $5.65 and a 12-month high of $9.76. The business’s 50-day moving average is $8.51 and its 200 day moving average is $8.47. The stock has a market cap of $755.94 million, a price-to-earnings ratio of -8.60 and a beta of 0.94.

Institutional Investors Weigh In On SecureWorks

A number of hedge funds have recently modified their holdings of SCWX. Y.D. More Investments Ltd grew its stake in SecureWorks by 7.9% during the 4th quarter. Y.D. More Investments Ltd now owns 20,465 shares of the technology company’s stock valued at $173,000 after acquiring an additional 1,501 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of SecureWorks during the 4th quarter worth approximately $317,000. ABC Arbitrage SA purchased a new stake in shares of SecureWorks in the fourth quarter valued at approximately $535,000. Alberta Investment Management Corp purchased a new stake in shares of SecureWorks in the fourth quarter valued at approximately $5,076,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of SecureWorks in the fourth quarter valued at approximately $680,000. 14.38% of the stock is currently owned by institutional investors and hedge funds.

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.