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

Investment analysts at StockNews.com assumed coverage on shares of Marchex (NASDAQ:MCHX) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the technology company’s stock.

Marchex Price Performance

Shares of Marchex stock opened at $1.90 on Friday. The firm has a fifty day moving average price of $1.86 and a two-hundred day moving average price of $1.78. Marchex has a fifty-two week low of $1.11 and a fifty-two week high of $2.40. The company has a market cap of $83.00 million, a PE ratio of -21.11 and a beta of 1.91.

Hedge Funds Weigh In On Marchex

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