Marchex (NASDAQ:MCHX) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Shares of Marchex, Inc. (NASDAQ:MCHX - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.81 and traded as high as $2.03. Marchex shares last traded at $1.98, with a volume of 6,125 shares traded.

Analyst Upgrades and Downgrades

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

Marchex Trading Down 0.8%

The stock has a 50-day simple moving average of $1.96 and a 200 day simple moving average of $1.82. The company has a market cap of $84.14 million, a price-to-earnings ratio of -14.81 and a beta of 1.89.

Hedge Funds Weigh In On Marchex

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new position in shares of Marchex in the 1st quarter valued at about $30,000. Millennium Management LLC lifted its holdings in shares of Marchex by 55.5% in 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 period. Arcadia Wealth Management Inc. acquired a new position in shares of Marchex in the 4th quarter valued at about $51,000. LPL Financial LLC acquired a new position in shares of Marchex in the 4th quarter valued at about $55,000. Finally, Acuitas Investments LLC acquired a new position in shares of Marchex in the 2nd quarter valued at 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.