Marchex (NASDAQ:MCHX) Stock Crosses Above Two Hundred Day Moving Average - Time to Sell?

Marchex, Inc. (NASDAQ:MCHX - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.81 and traded as high as $2.09. Marchex shares last traded at $2.06, with a volume of 25,648 shares traded.

Wall Street Analysts Forecast Growth

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

Marchex Stock Performance

The stock has a market cap of $89.61 million, a P/E ratio of -15.77 and a beta of 1.89. The company has a 50-day simple moving average of $1.80 and a 200-day simple moving average of $1.81.

Institutional Trading of Marchex

Hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in Marchex in the 1st quarter valued at $30,000. Millennium Management LLC raised its stake 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 purchasing an additional 7,598 shares during the period. Arcadia Wealth Management Inc. acquired a new position in shares of Marchex during the fourth quarter worth about $51,000. LPL Financial LLC bought a new position in shares of Marchex during the fourth quarter worth about $55,000. Finally, Geode Capital Management LLC grew its holdings in shares of Marchex by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company's stock worth $630,000 after buying an additional 12,255 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.

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.