Marchex (NASDAQ:MCHX) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Marchex (NASDAQ:MCHX) in a note issued to investors on Friday. The firm set a “hold” rating on the technology company’s stock.

Marchex Price Performance

MCHX stock opened at $1.98 on Friday. The stock has a market capitalization of $86.49 million, a price-to-earnings ratio of -22.00 and a beta of 1.91. The company has a 50-day moving average of $1.84 and a two-hundred day moving average of $1.76. Marchex has a 52-week low of $1.11 and a 52-week high of $2.40.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Marchex stock. Geode Capital Management LLC increased its stake in shares of Marchex, Inc. (NASDAQ:MCHX) by 9.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 347,386 shares of the technology company’s stock after acquiring an additional 29,042 shares during the quarter. Geode Capital Management LLC owned about 0.80% of Marchex worth $650,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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.