StockNews.com Begins Coverage on Marchex (NASDAQ:MCHX)

StockNews.com assumed coverage on shares of Marchex (NASDAQ:MCHX) in a research note issued to investors on Friday. The firm set a “hold” rating on the technology company’s stock.

Marchex Stock Performance

Shares of MCHX stock opened at $1.99 on Friday. Marchex has a 1 year low of $1.11 and a 1 year high of $2.40. The firm has a market cap of $86.93 million, a price-to-earnings ratio of -22.11 and a beta of 1.91. The stock’s 50-day moving average is $1.84 and its two-hundred day moving average is $1.76.

Institutional Investors Weigh In On Marchex

A hedge fund recently raised its stake in Marchex stock. Geode Capital Management LLC increased its holdings in Marchex, Inc. (NASDAQ:MCHX) by 9.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 347,386 shares of the technology company’s stock after acquiring an additional 29,042 shares during the quarter. Geode Capital Management LLC owned approximately 0.80% of Marchex worth $650,000 at the end of the most recent quarter. 73.46% of the stock is owned by institutional investors.

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.