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

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

Marchex Stock Performance

NASDAQ MCHX opened at $1.75 on Friday. The firm’s fifty day moving average price is $1.74 and its two-hundred day moving average price is $1.51. Marchex has a 1 year low of $1.11 and a 1 year high of $2.16. The firm has a market capitalization of $76.40 million, a P/E ratio of -11.67 and a beta of 1.97. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 0.01.

Marchex (NASDAQ:MCHX) last issued its earnings results on Thursday, August 8th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). Marchex had a negative net margin of 10.03% and a negative return on equity of 11.33%. The company had revenue of $12.07 million for the quarter, compared to analysts’ expectations of $12.14 million. During the same period in the prior year, the firm earned ($0.05) EPS. As a group, research analysts anticipate that Marchex will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Marchex stock. P.A.W. Capital Corp grew its position in Marchex, Inc. (NASDAQ:MCHX) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 400,000 shares of the technology company’s stock after purchasing an additional 51,000 shares during the quarter. Marchex comprises approximately 1.5% of P.A.W. Capital Corp’s investment portfolio, making the stock its 13th biggest position. P.A.W. Capital Corp owned about 0.92% of Marchex worth $616,000 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.