Marchex (NASDAQ:MCHX) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

Marchex, Inc. (NASDAQ:MCHX) shares crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $1.37 and traded as high as $1.4350. Marchex shares last traded at $1.40, with a volume of 38,438 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Marchex in a report on Thursday, October 15th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce”.

Marchex Trading Up 7.7%

The stock’s fifty day simple moving average is $1.37 and its 200 day simple moving average is $1.57. The company has a market cap of $62.08 million, a price-to-earnings ratio of -11.67 and a beta of 1.88.

Marchex (NASDAQ:MCHX) last issued its earnings results on Tuesday, November 10th. The technology company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The business had revenue of $15.97 million for the quarter, compared to analysts’ expectations of $16.24 million. Marchex had a negative return on equity of 18.25% and a negative net margin of 12.44%.

Hedge Funds Weigh In On Marchex

An institutional investor recently raised its stake in Marchex stock. Kanen Wealth Management LLC raised its stake in Marchex, Inc. (NASDAQ:MCHX) by 4.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,300,388 shares of the technology company’s stock after buying an additional 50,989 shares during the quarter. Marchex makes up approximately 0.7% of Kanen Wealth Management LLC’s investment portfolio, making the stock its 22nd largest position. Kanen Wealth Management LLC owned about 2.96% of Marchex worth $2,016,000 as of its most recent filing with the Securities & Exchange Commission. 73.46% of the stock is owned by institutional investors.

About Marchex

Marchex, Inc. is a conversational intelligence and analytics company that helps businesses understand and improve customer interactions. The company analyzes phone calls, text messages and other customer conversations to provide insights into marketing performance, sales effectiveness and service quality. Its solutions include call tracking and attribution, conversation analytics, lead management and artificial intelligence-powered tools that identify customer intent, buying signals and opportunities for follow-up.