Marchex (NASDAQ:MCHX) Stock Price Passes Above 200 Day Moving Average - Should You Sell?

Marchex, Inc. (NASDAQ:MCHX - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Analysts Set New Price Targets

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

Marchex Stock Down 0.5%

The firm's 50-day moving average is $1.68 and its 200-day moving average is $1.80. The company has a market capitalization of $93.98 million, a PE ratio of -16.54 and a beta of 1.81.

Institutional Trading of Marchex

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in shares of Marchex during the first quarter worth approximately $30,000. Millennium Management LLC lifted its stake in Marchex by 55.5% in the fourth quarter. Millennium Management LLC now owns 21,287 shares of the technology company's stock worth $37,000 after purchasing an additional 7,598 shares during the last quarter. Arcadia Wealth Management Inc. purchased a new stake in Marchex during the fourth quarter valued at about $51,000. LPL Financial LLC purchased a new stake in Marchex during the fourth quarter valued at about $55,000. Finally, AMH Equity Ltd bought a new position in shares of Marchex during the fourth quarter valued at about $438,000. 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.