StockNews.com Begins Coverage on Marchex (NASDAQ:MCHX)

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

Marchex Price Performance

MCHX opened at $1.88 on Friday. The stock has a market capitalization of $82.12 million, a P/E ratio of -20.89 and a beta of 1.91. The company’s 50 day simple moving average is $1.85 and its 200-day simple moving average is $1.78. Marchex has a one year low of $1.11 and a one year high of $2.40.

Institutional Investors Weigh In On Marchex

An institutional investor recently raised its position in Marchex stock. P.A.W. Capital Corp increased its position in Marchex, Inc. (NASDAQ:MCHX) by 14.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 400,000 shares of the technology company’s stock after purchasing an additional 51,000 shares during the quarter. Marchex makes up 1.5% of P.A.W. Capital Corp’s portfolio, making the stock its 13th biggest position. P.A.W. Capital Corp owned 0.92% of Marchex worth $616,000 at the end of the most recent reporting period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

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.