Secureworks Corp (NASDAQ:SCWX) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 1,340,000 shares, a drop of 11.8% from the January 15th total of 1,520,000 shares. Based on an average daily trading volume, of 181,700 shares, the days-to-cover ratio is currently 7.4 days. Approximately 18.2% of the company’s stock are sold short.

A number of research analysts recently issued reports on the company. TheStreet upgraded Secureworks from a “d+” rating to a “c-” rating in a report on Wednesday, January 15th. BidaskClub downgraded Secureworks from a “sell” rating to a “strong sell” rating in a report on Thursday, November 14th. Goldman Sachs Group reissued a “sell” rating and set a $13.00 price target on shares of Secureworks in a research report on Tuesday, December 24th. Needham & Company LLC reissued a “hold” rating on shares of Secureworks in a research report on Monday, December 9th. Finally, Zacks Investment Research cut Secureworks from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.00.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Advisors LP acquired a new stake in shares of Secureworks in the first quarter valued at approximately $3,519,000. Northern Trust Corp lifted its position in shares of Secureworks by 3.3% in the second quarter. Northern Trust Corp now owns 106,576 shares of the technology company’s stock valued at $1,416,000 after buying an additional 3,441 shares during the last quarter. BlackRock Inc. lifted its position in shares of Secureworks by 5.8% in the second quarter. BlackRock Inc. now owns 628,892 shares of the technology company’s stock valued at $8,359,000 after buying an additional 34,404 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Secureworks by 0.7% in the second quarter. Vanguard Group Inc. now owns 651,979 shares of the technology company’s stock valued at $8,665,000 after buying an additional 4,384 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Secureworks in the second quarter valued at approximately $167,000. 10.00% of the stock is owned by hedge funds and other institutional investors.

NASDAQ SCWX traded down $0.42 during trading hours on Friday, hitting $15.55. 48,527 shares of the company traded hands, compared to its average volume of 121,700. The business’s 50-day moving average is $16.30 and its 200-day moving average is $13.44. Secureworks has a twelve month low of $10.37 and a twelve month high of $23.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -32.40 and a beta of 1.24.

Secureworks (NASDAQ:SCWX) last issued its quarterly earnings results on Thursday, December 5th. The technology company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. Secureworks had a negative return on equity of 2.39% and a negative net margin of 7.06%. The firm had revenue of $141.33 million during the quarter, compared to analysts’ expectations of $136.12 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Analysts predict that Secureworks will post -0.26 EPS for the current year.

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.

Further Reading: Initial Coin Offering (ICO)

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