StockNews.com Initiates Coverage on Marchex (NASDAQ:MCHX)

Research analysts at StockNews.com began coverage on shares of Marchex (NASDAQ:MCHX) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the technology company’s stock.

Marchex Stock Performance

Shares of NASDAQ:MCHX opened at $1.92 on Tuesday. The stock’s 50-day moving average is $1.91 and its 200-day moving average is $1.82. The company has a market cap of $83.87 million, a P/E ratio of -21.33 and a beta of 1.91. Marchex has a 52-week low of $1.11 and a 52-week high of $2.40.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Marchex stock. Geode Capital Management LLC lifted its stake in Marchex, Inc. (NASDAQ:MCHX) by 9.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 approximately 0.80% of Marchex worth $650,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 73.46% of the company’s stock.

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.