Marchex (NASDAQ:MCHX) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Marchex, Inc. (NASDAQ:MCHX - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.80 and traded as high as $2.15. Marchex shares last traded at $2.11, with a volume of 55,457 shares trading hands.

Wall Street Analysts Forecast Growth

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

Marchex Price Performance

The company has a market cap of $92.23 million, a price-to-earnings ratio of -16.23 and a beta of 1.81. The firm has a 50 day simple moving average of $1.66 and a 200-day simple moving average of $1.80.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MCHX. Edenbrook Capital LLC raised its stake in shares of Marchex by 0.7% in the 1st quarter. Edenbrook Capital LLC now owns 14,664,380 shares of the technology company's stock valued at $23,903,000 after acquiring an additional 102,475 shares during the period. Kanen Wealth Management LLC acquired a new stake in Marchex in the 1st quarter valued at approximately $813,000. Geode Capital Management LLC raised its position in Marchex by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company's stock valued at $630,000 after purchasing an additional 12,255 shares during the period. AMH Equity Ltd acquired a new position in Marchex during the fourth quarter worth $438,000. Finally, LPL Financial LLC acquired a new position in Marchex during the fourth quarter worth $55,000. Hedge funds and other institutional investors own 73.46% of the company's stock.

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.