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

Key Points

• Marchex shares crossed above their 200-day moving average of $1.82, trading at a high of $2.00 and closing at $1.98 with a volume of 10,391 shares.
• Wall Street Zen initiated coverage on Marchex, assigning a "hold" rating to the stock.
• Institutional investors hold 73.46% of Marchex's stock, with several hedge funds increasing their stakes recently, reflecting growing interest in the company.

Marchex, Inc. (NASDAQ:MCHX - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Wall Street Analyst Weigh In

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

Marchex Stock Down 3.1%

The firm has a market cap of $82.17 million, a price-to-earnings ratio of -16.91 and a beta of 1.91. The stock has a fifty day moving average price of $1.99 and a 200-day moving average price of $1.82.

Institutional Trading of Marchex

Several large investors have recently modified their holdings of MCHX. Jane Street Group LLC acquired a new stake in Marchex during the 1st quarter valued at $30,000. Millennium Management LLC grew its holdings in Marchex by 55.5% during the 4th 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 last quarter. Arcadia Wealth Management Inc. acquired a new stake in shares of Marchex during the fourth quarter valued at $51,000. Manatuck Hill Partners LLC acquired a new stake in shares of Marchex during the second quarter valued at $88,000. Finally, Marathon Capital Management boosted its stake in shares of Marchex by 30.1% during the second quarter. Marathon Capital Management now owns 54,000 shares of the technology company's stock valued at $117,000 after acquiring an additional 12,500 shares during the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

About Marchex

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.