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

Key Points

• Marchex's shares recently surpassed their 200-day moving average of $1.81, trading at a peak of $1.98 with an 8.2% increase.
• Zacks Research upgraded Marchex's rating from "hold" to a "strong-buy", while Weiss Ratings maintained a "sell" rating, leading to an average rating of "Moderate Buy" overall.
• Institutional investors hold 73.46% of Marchex's stock, with significant changes in positions by several hedge funds in recent quarters.

Marchex, Inc. (NASDAQ:MCHX - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.81 and traded as high as $1.98. Marchex shares last traded at $1.98, with a volume of 51,578 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently issued reports on MCHX. Zacks Research raised shares of Marchex from a "hold" rating to a "strong-buy" rating in a report on Monday. Weiss Ratings reissued a "sell (d-)" rating on shares of Marchex in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Marchex presently has an average rating of "Moderate Buy".

Marchex Stock Up 8.2%

The stock's 50-day simple moving average is $1.94 and its 200 day simple moving average is $1.81. The company has a market cap of $87.47 million, a price-to-earnings ratio of -18.00 and a beta of 1.99.

Institutional Trading of Marchex

Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC acquired a new stake in shares of Marchex during the first quarter worth about $30,000. Millennium Management LLC lifted its position in shares of Marchex by 55.5% during 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 in the last quarter. Manatuck Hill Partners LLC acquired a new stake in shares of Marchex during the second quarter worth about $88,000. Marathon Capital Management lifted its position 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 worth $117,000 after purchasing an additional 12,500 shares in the last quarter. Finally, Acuitas Investments LLC acquired a new stake in shares of Marchex during the second quarter worth about $141,000. Institutional investors and hedge funds own 73.46% of the company's stock.

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.

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