Marchex (NASDAQ:MCHX) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Marchex, Inc. (NASDAQ:MCHX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.82 and traded as high as $2.00. Marchex shares last traded at $1.98, with a volume of 10,391 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen began coverage on shares of Marchex in a report on Wednesday, May 21st. They set a “hold” rating for the company.

Marchex Stock Down 1.0%

The stock’s 50-day moving average is $2.00 and its 200-day moving average is $1.82. The firm has a market cap of $87.47 million, a P/E ratio of -18.00 and a beta of 1.91.

Institutional Investors Weigh In On Marchex

A number of institutional investors have recently added to or reduced their stakes in the company. Edenbrook Capital LLC grew its position in Marchex by 0.7% during the first quarter. Edenbrook Capital LLC now owns 14,664,380 shares of the technology company’s stock worth $23,903,000 after buying an additional 102,475 shares in the last quarter. Kanen Wealth Management LLC raised its stake in shares of Marchex by 38.6% in the 2nd quarter. Kanen Wealth Management LLC now owns 691,642 shares of the technology company’s stock valued at $1,494,000 after buying an additional 192,572 shares in the last quarter. AMH Equity Ltd raised its stake in shares of Marchex by 28.2% in the 2nd quarter. AMH Equity Ltd now owns 278,276 shares of the technology company’s stock valued at $609,000 after buying an additional 61,163 shares in the last quarter. Acuitas Investments LLC acquired a new position in shares of Marchex in the 2nd quarter valued at $141,000. Finally, Marathon Capital Management raised its stake in shares of Marchex by 30.1% in the 2nd quarter. Marathon Capital Management now owns 54,000 shares of the technology company’s stock valued at $117,000 after buying an additional 12,500 shares in the last quarter. 73.46% of the stock is owned by institutional investors and hedge funds.

Marchex Company Profile

Marchex, Inc, a conversation intelligence company, provides conversational analytics and related solutions in the United States, Canada, and internationally. Its products include Marketing Edge that identifies which campaigns and channels are driving inbound conversations, evaluates what happens during those conversations, and closes the sales loop by connecting converted sales to marketing driven leads; Sonar Business Text Messaging, an artificial intelligence (AI) empowered intelligent workflow enabled mobile messaging solution that enables operations, sales, and marketing teams to communicate personally with field staff, prospects, and customers; Marchex Platform Services, a robust API-based conversation intelligence product that allows executives, sales, customer engagement, and marketing teams to apply Marchex AI to most any calls, regardless of communication platform, in order to identify actionable insights from conversations with their customers; Spotlight, an AI conversation analytics product for multi-location businesses; and Engage, a solution that provides locations with applications to enhance their overall performance.