Marchex (NASDAQ:MCHX) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Marchex, Inc. (NASDAQ:MCHX)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.82 and traded as high as $1.95. Marchex shares last traded at $1.92, with a volume of 3,922 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Marchex in a research note on Tuesday. They issued a “hold” rating for the company.

Marchex Trading Down 1.0 %

The company has a market cap of $83.87 million, a price-to-earnings ratio of -21.33 and a beta of 1.91. The firm’s fifty day moving average price is $1.91 and its 200-day moving average price is $1.82.

Hedge Funds Weigh In On Marchex

An institutional investor recently raised its position in Marchex stock. Geode Capital Management LLC boosted its stake in Marchex, Inc. (NASDAQ:MCHX) by 9.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 0.80% of Marchex worth $650,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.