SecureWorks Corp. (NASDAQ:SCWX) Short Interest Down 15.5% in December

SecureWorks Corp. (NASDAQ:SCWX) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 75,800 shares, a drop of 15.5% from the November 30th total of 89,700 shares. Based on an average daily trading volume, of 271,500 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.7% of the shares of the stock are short sold.

SecureWorks Stock Up 0.2 %

SCWX traded up $0.02 during midday trading on Tuesday, hitting $8.47. 66,807 shares of the company were exchanged, compared to its average volume of 102,201. The firm’s 50 day moving average price is $8.41 and its 200-day moving average price is $7.81. SecureWorks has a 1-year low of $5.61 and a 1-year high of $9.76. The firm has a market capitalization of $752.37 million, a P/E ratio of -8.56 and a beta of 1.00.

Analysts Set New Price Targets

SCWX has been the subject of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of SecureWorks in a research note on Tuesday, October 22nd. Barclays raised their target price on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a research report on Friday, September 6th. Finally, StockNews.com assumed coverage on SecureWorks in a research note on Thursday, December 26th. They issued a “hold” rating for the company.

Institutional Investors Weigh In On SecureWorks

Several large investors have recently modified their holdings of the company. Marshall Wace LLP raised its position in shares of SecureWorks by 11.6% in the 2nd quarter. Marshall Wace LLP now owns 49,997 shares of the technology company’s stock worth $350,000 after acquiring an additional 5,205 shares in the last quarter. FMR LLC lifted its stake in SecureWorks by 22.3% in the third quarter. FMR LLC now owns 21,734 shares of the technology company’s stock valued at $192,000 after buying an additional 3,964 shares during the period. Scalar Gauge Management LLC boosted its holdings in shares of SecureWorks by 18.8% during the 2nd quarter. Scalar Gauge Management LLC now owns 316,137 shares of the technology company’s stock worth $2,213,000 after buying an additional 50,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of SecureWorks by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 351,763 shares of the technology company’s stock worth $2,462,000 after buying an additional 16,327 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of SecureWorks by 107.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,180 shares of the technology company’s stock valued at $267,000 after acquiring an additional 19,735 shares in the last quarter. 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.