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Marchex (NASDAQ:MCHX) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

Marchex logo with Computer and Technology background

Shares of Marchex, Inc. (NASDAQ:MCHX - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

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

View Our Latest Report on Marchex

Marchex Trading Down 1.5%

The stock has a market cap of $88.29 million, a P/E ratio of -15.54 and a beta of 1.89. The company's fifty day simple moving average is $1.83 and its 200-day simple moving average is $1.81.

Institutional Investors Weigh In On Marchex

Several institutional investors and hedge funds have recently bought and sold shares of MCHX. Kanen Wealth Management LLC bought a new stake in Marchex in the 1st quarter valued at $813,000. Edenbrook Capital LLC boosted its stake in shares of Marchex by 0.7% in the 1st quarter. Edenbrook Capital LLC now owns 14,664,380 shares of the technology company's stock valued at $23,903,000 after purchasing an additional 102,475 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Marchex in the 4th quarter valued at $55,000. Arcadia Wealth Management Inc. acquired a new stake in shares of Marchex in the 4th quarter valued at $51,000. Finally, Jane Street Group LLC acquired a new stake in shares of Marchex in the 1st quarter valued at $30,000. Institutional investors own 73.46% of the company's stock.

About Marchex

(Get Free Report)

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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