Marchex (NASDAQ:MCHX) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Marchex, Inc. (NASDAQ:MCHX)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.84 and traded as high as $1.99. Marchex shares last traded at $1.93, with a volume of 5,514 shares trading hands.

Analysts Set New Price Targets

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

Marchex Stock Up 0.5 %

The company has a market cap of $84.30 million, a P/E ratio of -21.44 and a beta of 1.91. The business’s 50 day moving average is $1.93 and its 200 day moving average is $1.84.

Marchex (NASDAQ:MCHX) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported ($0.02) EPS for the quarter. Marchex had a negative return on equity of 10.76% and a negative net margin of 8.60%. The business had revenue of $12.55 million during the quarter, compared to the consensus estimate of $12.60 million. During the same period last year, the firm earned ($0.03) EPS. As a group, equities research analysts forecast that Marchex, Inc. will post -0.1 EPS for the current year.

Hedge Funds Weigh In On Marchex

A hedge fund recently raised its stake in Marchex stock. Geode Capital Management LLC grew its position in Marchex, Inc. (NASDAQ:MCHX) by 9.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 347,386 shares of the technology company’s stock after purchasing an additional 29,042 shares during the quarter. Geode Capital Management LLC owned about 0.80% of Marchex worth $650,000 at the end of the most recent reporting period. 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.