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

Marchex, Inc. (NASDAQ:MCHX - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.80 and traded as high as $2.27. Marchex shares last traded at $2.16, with a volume of 25,682 shares.

Wall Street Analysts Forecast Growth

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

Marchex Stock Up 3.8%

The firm has a market cap of $96.16 million, a PE ratio of -16.92 and a beta of 1.89. The stock has a 50 day moving average price of $1.77 and a two-hundred day moving average price of $1.81.

Institutional Investors Weigh In On Marchex

A number of large investors have recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in Marchex in the first quarter valued at approximately $30,000. Millennium Management LLC boosted its position in Marchex by 55.5% in the fourth quarter. Millennium Management LLC now owns 21,287 shares of the technology company's stock valued at $37,000 after buying an additional 7,598 shares during the last quarter. Arcadia Wealth Management Inc. purchased a new stake in Marchex in the fourth quarter valued at approximately $51,000. LPL Financial LLC purchased a new stake in Marchex in the fourth quarter valued at approximately $55,000. Finally, Geode Capital Management LLC boosted its position in Marchex by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company's stock valued at $630,000 after buying an additional 12,255 shares during the last quarter. 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.