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

Marchex, Inc. (NASDAQ:MCHX) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 21,900 shares, a growth of 27.3% from the February 13th total of 17,200 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 60,600 shares, the days-to-cover ratio is presently 0.4 days.

Marchex Price Performance

MCHX opened at $1.86 on Wednesday. The company’s 50 day simple moving average is $1.98 and its 200-day simple moving average is $1.89. Marchex has a one year low of $1.20 and a one year high of $2.40. The stock has a market capitalization of $81.25 million, a P/E ratio of -20.66 and a beta of 1.87.

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

Hedge Funds Weigh In On Marchex

Several large investors have recently bought and sold shares of MCHX. AMH Equity Ltd acquired a new position in Marchex in the fourth quarter valued at approximately $438,000. LPL Financial LLC acquired a new stake in Marchex in the fourth quarter worth $55,000. Arcadia Wealth Management Inc. acquired a new stake in Marchex in the fourth quarter worth $51,000. Geode Capital Management LLC raised its holdings 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 during the period. Finally, Millennium Management LLC raised its holdings 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 during the period. 73.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Marchex in a research note on Tuesday. They set a “hold” rating on the 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.