Marchex (NASDAQ:MCHX) Stock Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Marchex (NASDAQ:MCHX) shares have crossed above their 200-day moving average, currently trading at $2.13 after reaching a high of $2.14.
• Wall Street Zen has initiated coverage with a "hold" rating on Marchex stocks, indicating cautious sentiment among analysts.
• Institutional investors own 73.46% of Marchex's stock, with notable increases in holdings from AMH Equity Ltd and Kanen Wealth Management LLC during the second quarter.

Marchex, Inc. (NASDAQ:MCHX - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.82 and traded as high as $2.14. Marchex shares last traded at $2.13, with a volume of 12,149 shares.

Wall Street Analyst Weigh In

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

Marchex Price Performance

The firm has a 50 day simple moving average of $2.00 and a 200-day simple moving average of $1.82. The stock has a market capitalization of $92.67 million, a price-to-earnings ratio of -16.31 and a beta of 1.92.

Hedge Funds Weigh In On Marchex

Large investors have recently modified their holdings of the stock. Millennium Management LLC lifted its position 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 purchasing an additional 7,598 shares during the period. Geode Capital Management LLC grew its stake 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 acquiring an additional 12,255 shares during the period. Jane Street Group LLC bought a new stake in Marchex during the 1st quarter worth approximately $30,000. Arcadia Wealth Management Inc. acquired a new stake in shares of Marchex during the fourth quarter worth $51,000. Finally, LPL Financial LLC bought a new stake in shares of Marchex in the fourth quarter valued at about $55,000. 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.