Marchex (NASDAQ:MCHX) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Marchex (NASDAQ:MCHX - Free Report) in a research note published on Friday. The firm issued a hold rating on the technology company's stock.

Marchex Stock Performance

Shares of MCHX stock traded up $0.01 during trading hours on Friday, reaching $1.99. The company had a trading volume of 38,090 shares, compared to its average volume of 49,679. The stock's fifty day simple moving average is $1.84 and its 200 day simple moving average is $1.76. The company has a market capitalization of $86.93 million, a P/E ratio of -22.11 and a beta of 1.91. Marchex has a twelve month low of $1.11 and a twelve month high of $2.40.

Hedge Funds Weigh In On Marchex

An institutional investor recently raised its position in Marchex stock. P.A.W. Capital Corp increased its holdings in shares of Marchex, Inc. (NASDAQ:MCHX - Free Report) by 14.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 400,000 shares of the technology company's stock after buying an additional 51,000 shares during the quarter. Marchex accounts for about 1.5% of P.A.W. Capital Corp's holdings, making the stock its 13th biggest holding. P.A.W. Capital Corp owned approximately 0.92% of Marchex worth $616,000 as of its most recent SEC filing. Institutional investors own 73.46% of the company's stock.

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.