Marchex, Inc. (NASDAQ:MCHX) saw a significant decline in short interest in September. As of September 15th, there was short interest totalling 357,500 shares, a decline of 9.9% from the August 31st total of 397,000 shares. Based on an average daily volume of 196,100 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.0% of the shares of the stock are sold short.
A number of research firms have commented on MCHX. Roth Capital reissued a “buy” rating and issued a $4.00 price objective on shares of Marchex in a research note on Thursday, August 6th. Zacks Investment Research lowered Marchex from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $4.00.
Shares of MCHX remained flat at $$2.14 during trading hours on Friday. The stock had a trading volume of 134,397 shares, compared to its average volume of 203,327. Marchex has a twelve month low of $1.10 and a twelve month high of $4.24. The stock has a market capitalization of $95.35 million, a price-to-earnings ratio of -3.24 and a beta of 1.84. The firm has a fifty day simple moving average of $1.86 and a two-hundred day simple moving average of $1.63.
Marchex (NASDAQ:MCHX) last issued its quarterly earnings results on Monday, August 10th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.06. Marchex had a negative return on equity of 9.00% and a negative net margin of 29.81%. The business had revenue of $25.85 million for the quarter, compared to analyst estimates of $18.23 million. On average, sell-side analysts expect that Marchex will post -0.34 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in Marchex by 5.8% in the second quarter. Bank of America Corp DE now owns 183,842 shares of the technology company’s stock valued at $291,000 after purchasing an additional 10,010 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Marchex by 17.4% in the first quarter. Wells Fargo & Company MN now owns 98,541 shares of the technology company’s stock valued at $143,000 after purchasing an additional 14,624 shares during the last quarter. AJO LP increased its holdings in Marchex by 11.2% in the second quarter. AJO LP now owns 184,372 shares of the technology company’s stock valued at $291,000 after purchasing an additional 18,595 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co bought a new stake in Marchex in the second quarter valued at about $30,000. Finally, JPMorgan Chase & Co. increased its holdings in Marchex by 20.9% in the first quarter. JPMorgan Chase & Co. now owns 143,576 shares of the technology company’s stock valued at $208,000 after purchasing an additional 24,853 shares during the last quarter. Institutional investors and hedge funds own 62.38% of the company’s stock.
Marchex, Inc operates as a call analytics company that helps businesses connect, drive, measure, and convert callers into customers. Its products include Marchex Call Analytics, an analytics platform for enterprises that depend on inbound phone calls to drive sales, appointments, and reservations; Marchex Speech Analytics that enable actionable insights for enterprise, mid-sized, and small businesses; Text Analytics and Communications, which enable businesses to send and receive text/SMS messages with customers; Call Monitoring; Marchex Omnichannel Analytics Cloud products, such as Marchex Search Analytics, a product for search marketers that drive phone calls from search campaigns, as well as Marchex Display and Video Analytics, a product for marketers that buy digital display advertising; Marchex Site Analytics, a product for marketers that can drive phone calls from Websites; and Marchex Social Analytics, a product for marketers that buy social media advertising.
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