Marchex, Inc. (NASDAQ:MCHX) Sees Large Decrease in Short Interest

Marchex, Inc. (NASDAQ:MCHX) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 28,578 shares, a drop of 35.6% from the August 15th total of 44,393 shares. Based on an average trading volume of 18,895 shares, the days-to-cover ratio is presently 1.5 days. Currently, 0.1% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Marchex in a report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Marchex stock. Kanen Wealth Management LLC raised its stake in Marchex, Inc. (NASDAQ:MCHX) by 4.1% during the first 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 quarter. Marchex comprises approximately 0.7% of Kanen Wealth Management LLC’s holdings, making the stock its 22nd biggest holding. Kanen Wealth Management LLC owned approximately 2.96% of Marchex worth $2,016,000 at the end of the most recent reporting period. 73.46% of the stock is currently owned by institutional investors.

Marchex Stock Performance

MCHX stock traded up $0.07 during trading on Thursday, hitting $1.36. The stock had a trading volume of 95,762 shares, compared to its average volume of 20,989. The company’s 50 day moving average price is $1.73 and its two-hundred day moving average price is $1.63. The stock has a market cap of $60.30 million, a price-to-earnings ratio of -11.33 and a beta of 1.86. Marchex has a 1-year low of $1.15 and a 1-year high of $2.04.

Marchex (NASDAQ:MCHX) last announced its earnings results on Wednesday, August 12th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Marchex had a negative return on equity of 18.25% and a negative net margin of 12.44%.The firm had revenue of $11.00 million for the quarter, compared to analyst estimates of $11.20 million.

About Marchex

Marchex, Inc (NASDAQ: MCHX) is a conversation intelligence and analytics company that helps businesses understand and improve customer interactions. Its technology analyzes phone calls, text messages and other customer conversations to provide insights into marketing performance, lead quality, sales opportunities and service experiences.

The company offers solutions designed to help organizations acquire, engage and retain customers. Its products support call tracking, lead management, conversation analytics and artificial intelligence-powered analysis, enabling businesses to identify buying signals, evaluate customer interactions and improve operational and marketing decisions.

Marchex has historically focused on performance marketing and call-based analytics, evolving from its earlier digital marketing activities toward software and data solutions for businesses that rely on customer conversations.