Saturday, June 25, 2022

10% Owner Gagnon Neil bought 72,124 shares of SecureWorks Corp. [SCWX]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. SecureWorks Corp. shares valued at $727,984 were purchased by Gagnon Neil on Jun 17. At $10.09 per share, Gagnon Neil acquired 72,124 shares. The insider’s holdings grew to 569,182 shares worth approximately $6.44 million following the completion of this transaction.

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Also, Gagnon Neil purchased 33,080 shares, netting a total of over 312,097 in proceeds. Following the buying of shares at $9.43 each, the insider now holds 500,226 shares.

Before that, Thomas Wendy had added 3,000 shares to its account. In a trade valued at $35,670, the Chief Executive Officer bought SecureWorks Corp. shares for $11.89 each. Upon closing the transaction, the insider’s holdings increased to 3,000 shares, worth approximately $10.97 million.

As published in a research note from Goldman on January 08, 2021, SecureWorks Corp. [SCWX] has been rated down from a Neutral to a Sell and the price target has been revised to $14. This represents a 19.21% premium over Wednesday’s closing price. Analysts at JP Morgan downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in early December. As of March 20, 2020, Goldman has increased its “Sell” rating to a “Neutral” for SCWX. Earlier on November 12, 2019, Goldman initiated its rating. Their recommendation was “a Sell” for SCWX stock.

Analyzing SCWX’s Price Performance

On Wednesday, SecureWorks Corp. [NASDAQ: SCWX] rose 6.90% to $11.31. The stock’s lowest price that day was $10.61, but it reached a high of $11.39 in the same session. During the last five days, there has been a surge of approximately 11.32%. Over the course of the year, SecureWorks Corp. shares have dropped approximately -29.18%. Shares of the company reached a 52-week high of $17.20 on 01/11/22 and a 52-week low of $9.26 on 06/16/22. A 50-day SMA is recorded $11.17, while a 200-day SMA reached $15.41. Nevertheless, trading volume fell to 0.11 million shares from 0.11 million shares the previous day.

Support And Resistance Levels for SecureWorks Corp. (SCWX)

According to the 24-hour chart, there is a support level at 10.82, which, if violated, would cause prices to drop to 10.32. In the upper region, resistance lies at 11.60. The next price resistance is at 11.88. RSI (Relative Strength Index) is 54.32 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.07, which suggests the price will decrease in the coming days. Percent R is at 48.36%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Which companies own the most shares of SecureWorks Corp. (SCWX)?

According to The Vanguard Group, Inc. filings, the company currently owns 951,702 shares, which is about 6.58% of the total SCWX shares outstanding. The investor’s shares have plunged by -35,292 from its previous 13-F filing of 986994.0 shares. With the completion of the buy, Gagnon Securities LLC’s stake is now worth $9,851,165. Cove Street Capital LLC acquire a 20.26% interest valued at $9.24 million while Royce & Associates LP sold a -93,000 stake. A total of -15,232 shares of SecureWorks Corp. were sold by BlackRock Fund Advisors during the quarter, and 0 were sold by Gagnon Advisors LLC. In its current portfolio, Federated MDTA LLC holds 300,979 shares valued at $3.6 million.

In terms of SecureWorks Corp. share price expectations, FactSet research, analysts set an average price target of $12.88 in the next 12 months, up nearly 22.87% from the previous closing price of $10.58. Analysts anticipate SecureWorks Corp. stock to reach $13.50 by 2022, with the lowest price target being $12.00. In spite of this, 5 analysts ranked SecureWorks Corp. stock as an Underweight at the end of 2022. On February 05, 2019, BofA/Merrill assigned a price target of “an Underperform” to the stock and reiterated coverage with a $12.50.

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