Marchex (NASDAQ:MCHX) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Marchex, Inc. (NASDAQ:MCHX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.77 and traded as high as $1.96. Marchex shares last traded at $1.88, with a volume of 43,458 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Marchex in a research report on Saturday. They set a “hold” rating for the company.

Marchex Trading Down 3.6 %

The stock has a market capitalization of $82.12 million, a P/E ratio of -20.89 and a beta of 1.91. The company has a fifty day simple moving average of $1.85 and a two-hundred day simple moving average of $1.78.

Institutional Trading of Marchex

An institutional investor recently raised its position in Marchex stock. P.A.W. Capital Corp increased its stake in shares of Marchex, Inc. (NASDAQ:MCHX) by 14.6% in the second quarter, according to the company in its most recent Form 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 period. Marchex makes up approximately 1.5% of P.A.W. Capital Corp’s investment portfolio, making the stock its 13th largest holding. P.A.W. Capital Corp owned about 0.92% of Marchex worth $616,000 as of its most recent SEC filing. 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.