Marchex (NASDAQ:MCHX) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Marchex, Inc. (NASDAQ:MCHX - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.89 and traded as high as $2.03. Marchex shares last traded at $1.97, with a volume of 73,512 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Marchex in a research note on Saturday. They set a "hold" rating for the company.

Marchex Trading Up 0.5 %

The company has a 50 day simple moving average of $1.97 and a 200 day simple moving average of $1.89. The stock has a market capitalization of $86.05 million, a PE ratio of -21.89 and a beta of 1.92.

Institutional Trading of Marchex

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its position in Marchex by 55.5% during the 4th 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 during the period. LPL Financial LLC acquired a new position in Marchex during the 4th quarter worth approximately $55,000. AMH Equity Ltd acquired a new position in Marchex during the 4th quarter worth approximately $438,000. Finally, Geode Capital Management LLC increased its position in Marchex by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 359,641 shares of the technology company's stock worth $630,000 after purchasing an additional 12,255 shares during the period. 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.