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

Key Points

• Marchex shares recently crossed above their 200-day moving average, trading as high as $1.98 before closing at $1.96.
• Wall Street analyst firm Wall Street Zen issued a "hold" rating after starting coverage on Marchex.
• Institutional investors own approximately 73.46% of Marchex's stock, with several funds increasing their stakes significantly in recent quarters.

Marchex, Inc. (NASDAQ:MCHX - Get Free Report)'s share price crossed 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 $1.98. Marchex shares last traded at $1.96, with a volume of 7,097 shares changing hands.

Analyst Ratings Changes

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

Marchex Stock Up 0.3%

The firm's 50-day moving average price is $2.02 and its two-hundred day moving average price is $1.82. The firm has a market capitalization of $87.26 million, a PE ratio of -17.95 and a beta of 1.91.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in shares of Marchex in the first quarter worth approximately $30,000. Millennium Management LLC increased its position in shares of Marchex by 55.5% in the fourth quarter. Millennium Management LLC now owns 21,287 shares of the technology company's stock worth $37,000 after acquiring an additional 7,598 shares in the last quarter. Arcadia Wealth Management Inc. purchased a new position in shares of Marchex in the fourth quarter worth approximately $51,000. Manatuck Hill Partners LLC purchased a new position in shares of Marchex in the second quarter worth approximately $88,000. Finally, Marathon Capital Management increased its position in shares of Marchex by 30.1% in the second quarter. Marathon Capital Management now owns 54,000 shares of the technology company's stock worth $117,000 after acquiring an additional 12,500 shares in 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.