Marchex, Inc. (NASDAQ:MCHX – Get Free Report)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.46 and traded as high as $2.10. Marchex shares last traded at $2.06, with a volume of 9,268 shares changing hands.
Analysts Set New Price Targets
Separately, StockNews.com initiated coverage on shares of Marchex in a research note on Wednesday, August 14th. They set a “hold” rating for the company.
View Our Latest Analysis on MCHX
Marchex Trading Down 2.4 %
Marchex (NASDAQ:MCHX – Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.02) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.02). The business had revenue of $12.07 million during the quarter, compared to analyst estimates of $12.14 million. Marchex had a negative return on equity of 15.17% and a negative net margin of 13.97%. During the same quarter last year, the company posted ($0.05) EPS. On average, equities research analysts expect that Marchex, Inc. will post -0.11 EPS 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 raised its position in shares of Marchex, Inc. (NASDAQ:MCHX – Free Report) by 14.6% during the 2nd quarter, according to the company in its most recent 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 accounts for 1.5% of P.A.W. Capital Corp’s investment portfolio, making the stock its 13th biggest holding. P.A.W. Capital Corp owned about 0.92% of Marchex worth $616,000 at the end of the most recent quarter. 73.46% of the stock is currently owned by institutional investors and hedge funds.
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.
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