Marchex (NASDAQ:MCHX) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Marchex, Inc. (NASDAQ:MCHX)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.63 and traded as high as $1.90. Marchex shares last traded at $1.76, with a volume of 16,975 shares traded.

Analyst Upgrades and Downgrades

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

Marchex Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.37 and a current ratio of 2.37. The firm’s 50 day moving average is $1.82 and its 200-day moving average is $1.63. The stock has a market capitalization of $76.88 million, a price-to-earnings ratio of -16.00 and a beta of 1.97.

Marchex (NASDAQ:MCHX) last released its earnings results on Thursday, August 8th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). Marchex had a negative net margin of 10.03% and a negative return on equity of 11.33%. The business had revenue of $12.07 million during the quarter, compared to analyst estimates of $12.14 million. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. Analysts forecast that Marchex, Inc. will post -0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Marchex

An institutional investor recently raised its position in Marchex stock. P.A.W. Capital Corp lifted its position in Marchex, Inc. (NASDAQ:MCHX) by 14.6% in the second quarter, according to its most recent Form 13F filing with the Securities and 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 comprises about 1.5% of P.A.W. Capital Corp’s holdings, making the stock its 13th biggest holding. P.A.W. Capital Corp owned approximately 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 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.