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

Shares of Marchex, Inc. (NASDAQ:MCHX) 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 changing hands.

Wall Street Analysts Forecast Growth

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

Marchex Trading Up 7.7%

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

Marchex (NASDAQ:MCHX) last released its quarterly earnings data on Tuesday, November 10th. The technology company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The firm 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

A hedge fund recently raised its position in Marchex stock. Kanen Wealth Management LLC grew its holdings in Marchex, Inc. (NASDAQ:MCHX) by 4.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,300,388 shares of the technology company’s stock after purchasing an additional 50,989 shares during the period. Marchex makes up 0.7% of Kanen Wealth Management LLC’s investment portfolio, making the stock its 22nd largest position. Kanen Wealth Management LLC owned 2.96% of Marchex worth $2,016,000 as of its most recent SEC filing. Institutional investors own 73.46% of the company’s stock.

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.