Marchex (NASDAQ:MCHX) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• Marchex, Inc. shares recently surpassed their 200-day moving average of $1.81, trading as high as $1.85.
• Research analysts have mixed ratings for Marchex, with Weiss Ratings maintaining a "sell" rating, while Zacks Research upgraded it to "strong-buy," resulting in a consensus rating of "Moderate Buy".
• Significant institutional activity has been noted, with firms like Marathon Capital Management and AMH Equity Ltd increasing their stakes, indicating strong investor interest in the company.

Shares of Marchex, Inc. (NASDAQ:MCHX - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.81 and traded as high as $1.85. Marchex shares last traded at $1.81, with a volume of 11,937 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Marchex in a report on Wednesday, October 8th. Zacks Research raised Marchex from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Marchex presently has a consensus rating of "Moderate Buy".

Marchex Price Performance

The business has a 50 day moving average price of $1.92 and a 200 day moving average price of $1.81. The stock has a market capitalization of $79.97 million, a PE ratio of -16.45 and a beta of 1.99.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new stake in shares of Marchex during the first quarter valued at approximately $30,000. Manatuck Hill Partners LLC purchased a new stake in Marchex during the 2nd quarter valued at $88,000. Marathon Capital Management boosted its stake in Marchex by 30.1% during the 2nd quarter. Marathon Capital Management now owns 54,000 shares of the technology company's stock valued at $117,000 after purchasing an additional 12,500 shares during the last quarter. Acuitas Investments LLC bought a new stake in shares of Marchex in the 2nd quarter worth $141,000. Finally, AMH Equity Ltd raised its stake in shares of Marchex by 28.2% in the second quarter. AMH Equity Ltd now owns 278,276 shares of the technology company's stock worth $609,000 after purchasing an additional 61,163 shares during the last quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

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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