SecureWorks (NASDAQ:SCWX) Shares Gap Up to $7.07

SecureWorks Corp. (NASDAQ:SCWX)’s share price gapped up prior to trading on Friday . The stock had previously closed at $7.07, but opened at $7.74. SecureWorks shares last traded at $7.74, with a volume of 515 shares.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SCWX shares. Barclays upped their price target on shares of SecureWorks from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Friday, September 6th. Needham & Company LLC restated a “hold” rating on shares of SecureWorks in a research report on Friday, September 6th.

SecureWorks Trading Up 9.5 %

The firm has a market cap of $684.24 million, a PE ratio of -7.31 and a beta of 0.99. The firm has a fifty day simple moving average of $7.60 and a two-hundred day simple moving average of $6.76.

Institutional Investors Weigh In On SecureWorks

Institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC purchased a new stake in SecureWorks in the second quarter worth $121,000. Jaffetilchin Investment Partners LLC purchased a new stake in shares of SecureWorks in the 2nd quarter worth about $127,000. Oppenheimer Asset Management Inc. grew its position 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 worth $267,000 after buying an additional 19,735 shares during the period. Marshall Wace LLP increased its stake 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. Finally, King Luther Capital Management Corp purchased a new position in SecureWorks during the 2nd quarter valued at about $411,000. 14.38% of the stock is owned by hedge funds and other institutional investors.

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.