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

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

Marchex Stock Performance

MCHX opened at $1.83 on Wednesday. The company has a market cap of $79.90 million, a P/E ratio of -12.20 and a beta of 1.97. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01. The company’s 50 day moving average is $1.87 and its 200-day moving average is $1.58. Marchex has a 1-year low of $1.11 and a 1-year high of $2.16.

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

Institutional Investors Weigh In On Marchex

A hedge fund recently raised its stake in Marchex stock. P.A.W. Capital Corp grew its position in shares of Marchex, Inc. (NASDAQ:MCHX) by 14.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 400,000 shares of the technology company’s stock after purchasing an additional 51,000 shares during the quarter. Marchex comprises approximately 1.5% of P.A.W. Capital Corp’s investment portfolio, making the stock its 13th largest position. P.A.W. Capital Corp owned approximately 0.92% of Marchex worth $616,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.