Marchex, Inc. (NASDAQ:MCHX) Short Interest Up 27.3% in February

Marchex, Inc. (NASDAQ:MCHX) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 21,900 shares, an increase of 27.3% from the February 13th total of 17,200 shares. Based on an average trading volume of 60,600 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the shares of the company are short sold.

Analysts Set New Price Targets

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

Marchex Stock Performance

Shares of MCHX opened at $1.86 on Wednesday. The company has a 50-day simple moving average of $1.98 and a 200-day simple moving average of $1.89. The firm has a market capitalization of $81.25 million, a P/E ratio of -20.66 and a beta of 1.87. Marchex has a 52 week low of $1.20 and a 52 week high of $2.40.

Marchex (NASDAQ:MCHX) last announced its quarterly earnings data on Thursday, March 6th. The technology company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The company had revenue of $11.92 million for the quarter, compared to analyst estimates of $12.01 million. Marchex had a negative net margin of 8.60% and a negative return on equity of 10.76%. As a group, equities analysts forecast that Marchex will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Millennium Management LLC raised its position in Marchex by 55.5% in the fourth quarter. Millennium Management LLC now owns 21,287 shares of the technology company’s stock worth $37,000 after purchasing an additional 7,598 shares in the last quarter. Arcadia Wealth Management Inc. acquired a new position in Marchex in the fourth quarter worth about $51,000. LPL Financial LLC acquired a new position in Marchex in the fourth quarter worth about $55,000. AMH Equity Ltd acquired a new position in Marchex in the fourth quarter worth about $438,000. Finally, Geode Capital Management LLC raised its position in Marchex by 9.1% in the third quarter. Geode Capital Management LLC now owns 347,386 shares of the technology company’s stock worth $650,000 after purchasing an additional 29,042 shares in the last quarter. Institutional investors and hedge funds 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.