SecureWorks Corp.’s (SCWX) Lock-Up Period Set To Expire on October 19th
SecureWorks Corp.’s (NASDAQ:SCWX) lock-up period will expire on Wednesday, October 19th. SecureWorks Corp. had issued 8,000,000 shares in its initial public offering on April 22nd. The total size of the offering was $112,000,000 based on an initial share price of $14.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.
A number of brokerages recently issued reports on SCWX. Zacks Investment Research raised SecureWorks Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Citigroup Inc. increased their price objective on SecureWorks Corp. from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, September 8th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $16.83.
Shares of SecureWorks Corp. (NASDAQ:SCWX) opened at 12.19 on Friday. The company’s market cap is $983.38 million. The firm’s 50-day moving average price is $13.08 and its 200 day moving average price is $13.71. SecureWorks Corp. has a 12-month low of $11.85 and a 12-month high of $16.23.
SecureWorks Corp. (NASDAQ:SCWX) last announced its quarterly earnings results on Tuesday, September 6th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. The company had revenue of $103.90 million for the quarter. The business’s quarterly revenue was up 29.1% compared to the same quarter last year. On average, analysts predict that SecureWorks Corp. will post ($0.31) earnings per share for the current year.
A number of large investors have recently made changes to their positions in the company. Teachers Advisors Inc. bought a new stake in shares of SecureWorks Corp. during the second quarter valued at $137,000. KBC Group NV bought a new stake in shares of SecureWorks Corp. during the second quarter valued at $155,000. Edge Wealth Management LLC bought a new stake in shares of SecureWorks Corp. during the third quarter valued at $146,000. California State Teachers Retirement System bought a new stake in shares of SecureWorks Corp. during the second quarter valued at $179,000. Finally, Wesbanco Bank Inc. bought a new stake in shares of SecureWorks Corp. during the second quarter valued at $226,000. 76.45% of the stock is currently owned by institutional investors.
SecureWorks Corp. Company Profile
Secureworks Corp. is a provider of intelligence-driven information security solutions focused on protecting its clients from cyber-attacks. The Company’s solutions enable organizations to fortify their cyber defenses to prevent security breaches; detect malicious activity in real time; prioritize and respond rapidly to security breaches, and predict emerging threats.
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