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

StockNews.com assumed coverage on shares of Marchex (NASDAQ:MCHX) in a research note issued to investors on Monday. The brokerage issued a hold rating on the technology company’s stock.

Marchex Stock Performance

MCHX stock opened at $1.70 on Monday. The company has a market capitalization of $74.26 million, a PE ratio of -18.89 and a beta of 1.96. Marchex has a one year low of $1.11 and a one year high of $2.16. The company’s 50 day moving average price is $1.79 and its two-hundred day moving average price is $1.67.

Institutional Trading of Marchex

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 disclosure with the Securities and Exchange Commission. The firm owned 347,386 shares of the technology company’s stock after buying an additional 29,042 shares during the period. Geode Capital Management LLC owned approximately 0.80% of Marchex worth $650,000 as of its most recent SEC filing. 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.