Marchex (NASDAQ:MCHX) Shares Cross Above 200 Day Moving Average – Here’s Why

Marchex, Inc. (NASDAQ:MCHX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.88 and traded as high as $2.04. Marchex shares last traded at $2.02, with a volume of 31,371 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Marchex in a research report on Friday. They set a “hold” rating for the company.

Marchex Trading Up 1.0 %

The company’s fifty day moving average is $1.98 and its 200 day moving average is $1.88. The company has a market capitalization of $88.23 million, a P/E ratio of -22.44 and a beta of 1.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. LPL Financial LLC bought a new position in Marchex in the 4th quarter worth approximately $55,000. AMH Equity Ltd bought a new position in Marchex in the 4th quarter worth approximately $438,000. Finally, Geode Capital Management LLC boosted its holdings in Marchex by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company’s stock worth $630,000 after buying an additional 12,255 shares during the period. 73.46% of the stock is owned by 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.