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

Investment analysts at StockNews.com initiated coverage on shares of Marchex (NASDAQ:MCHX) in a research note issued to investors on Saturday. The firm set a “hold” rating on the technology company’s stock.

Marchex Stock Performance

Shares of MCHX opened at $1.88 on Friday. Marchex has a fifty-two week low of $1.11 and a fifty-two week high of $2.40. The firm’s 50-day simple moving average is $1.85 and its two-hundred day simple moving average is $1.78. The stock has a market cap of $82.12 million, a PE ratio of -20.89 and a beta of 1.91.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Marchex stock. Geode Capital Management LLC raised its stake in Marchex, Inc. (NASDAQ:MCHX) by 9.1% during the third 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 as of its most recent SEC filing. 73.46% of the stock is owned by hedge funds and other institutional investors.

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.