Marchex (NASDAQ:MCHX) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

• Marchex's stock price recently surpassed its 200-day moving average, reaching a high of $2.01 during trading, with the last trade recorded at $1.81.
• Wall Street Zen initiated coverage on Marchex, assigning the company a "hold" rating as of May 21st.
• Institutional investors now hold 73.46% of Marchex's stock, with significant purchases made by various hedge funds in recent quarters.

Marchex, Inc. (NASDAQ:MCHX - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.82 and traded as high as $2.01. Marchex shares last traded at $1.81, with a volume of 673,037 shares traded.

Analyst Ratings Changes

Separately, Wall Street Zen started coverage on Marchex in a research report on Wednesday, May 21st. They issued a "hold" rating on the stock.

Marchex Price Performance

The firm has a market cap of $86.12 million, a price-to-earnings ratio of -17.91 and a beta of 1.92. The stock has a 50-day moving average of $2.02 and a 200-day moving average of $1.82.

Institutional Investors Weigh In On Marchex

Large investors have recently added to or reduced their stakes in the stock. Kanen Wealth Management LLC bought a new stake in shares of Marchex during the 1st quarter worth $813,000. LPL Financial LLC acquired a new stake in shares of Marchex in the fourth quarter valued at about $55,000. Millennium Management LLC increased its stake in shares of Marchex by 55.5% in the fourth quarter. Millennium Management LLC now owns 21,287 shares of the technology company's stock valued at $37,000 after buying an additional 7,598 shares during the period. Geode Capital Management LLC increased its stake in shares of 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 buying an additional 12,255 shares during the period. Finally, Arcadia Wealth Management Inc. acquired a new stake in shares of Marchex in the fourth quarter valued at about $51,000. Institutional investors and hedge funds 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.