Marchex (NASDAQ:MCHX) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

Shares of Marchex, Inc. (NASDAQ:MCHX) passed above its 50-day moving average during trading on Tuesday. The stock has a 50-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.

Wall Street Analyst Weigh In

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

Marchex Stock Down 4.5%

The stock has a fifty day moving average of $1.36 and a 200 day moving average of $1.56.

Marchex (NASDAQ:MCHX) last announced its quarterly earnings data on Tuesday, November 10th. The technology company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The business had revenue of $15.97 million during the quarter, compared to analyst estimates of $16.24 million. Marchex had a negative net margin of 6.56% and a negative return on equity of 10.83%.

Hedge Funds Weigh In On Marchex

A hedge fund recently raised its stake 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 SEC. The fund owned 1,300,388 shares of the technology company’s stock after acquiring an additional 50,989 shares during the period. Marchex makes up 0.7% of Kanen Wealth Management LLC’s portfolio, making the stock its 22nd largest holding. Kanen Wealth Management LLC owned approximately 2.96% of Marchex worth $2,016,000 as of its most recent filing with the SEC. Institutional investors own 73.46% of the company’s stock.

Marchex Company Profile

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.