Marchex (NASDAQ:MCHX) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Marchex, Inc. (NASDAQ:MCHX)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.89 and traded as high as $2.03. Marchex shares last traded at $1.97, with a volume of 73,512 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Marchex in a report on Saturday. They issued a “hold” rating for the company.

Marchex Price Performance

The firm has a market capitalization of $86.05 million, a price-to-earnings ratio of -21.89 and a beta of 1.92. The stock has a 50 day moving average price of $1.97 and a two-hundred day moving average price of $1.89.

Hedge Funds Weigh In On Marchex

Several institutional investors have recently bought and sold shares of MCHX. Millennium Management LLC lifted its position 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 purchasing an additional 7,598 shares in the last quarter. LPL Financial LLC purchased a new stake in Marchex during the 4th quarter worth approximately $55,000. AMH Equity Ltd acquired a new stake in Marchex during the 4th quarter worth approximately $438,000. Finally, Geode Capital Management LLC boosted its position in Marchex by 3.5% in the 4th 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 period. 73.46% of the stock is owned by institutional investors and hedge funds.

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.