Marchex (NASDAQ:MCHX) Share Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Marchex shares recently crossed above their 200-day moving average of $1.82, reaching a high of $1.96 before closing at $1.92.
• The company has a market capitalization of $84.83 million and a price-to-earnings ratio of -17.45, indicating current trading losses.
• Institutional investors hold 73.46% of Marchex's stock, with recent significant acquisitions by firms like Millennium Management and Marathon Capital Management.

Marchex, Inc. (NASDAQ:MCHX - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.82 and traded as high as $1.96. Marchex shares last traded at $1.92, with a volume of 53,407 shares traded.

Marchex Price Performance

The firm has a 50 day moving average of $1.98 and a 200-day moving average of $1.81. The stock has a market capitalization of $86.15 million, a P/E ratio of -17.73 and a beta of 1.91.

Institutional Trading of Marchex

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Kanen Wealth Management LLC purchased a new position in shares of Marchex during the first quarter valued at approximately $813,000. Millennium Management LLC grew its holdings 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 buying an additional 7,598 shares in the last quarter. Edenbrook Capital LLC lifted its position in Marchex by 0.7% in the first quarter. Edenbrook Capital LLC now owns 14,664,380 shares of the technology company's stock valued at $23,903,000 after buying an additional 102,475 shares during the last quarter. Arcadia Wealth Management Inc. acquired a new stake in shares of Marchex during the fourth quarter worth about $51,000. Finally, Manatuck Hill Partners LLC purchased a new position in Marchex in the second quarter valued at approximately $88,000. Hedge funds and other institutional investors own 73.46% of the company's stock.

Marchex Company Profile

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.