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

StockNews.com initiated coverage on shares of Marchex (NASDAQ:MCHX) in a research report released on Friday. The brokerage issued a hold rating on the technology company’s stock.

Marchex Stock Performance

Shares of NASDAQ:MCHX opened at $1.67 on Friday. The company has a market capitalization of $72.95 million, a price-to-earnings ratio of -15.18 and a beta of 1.97. Marchex has a 52 week low of $1.11 and a 52 week high of $2.16. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $1.86 and a 200 day moving average of $1.62.

Marchex (NASDAQ:MCHX) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported ($0.02) EPS for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $12.07 million during the quarter, compared to the consensus estimate of $12.14 million. Marchex had a negative net margin of 10.03% and a negative return on equity of 11.33%. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. On average, sell-side analysts predict that Marchex will post -0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Marchex

An institutional investor recently raised its position 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 holding. P.A.W. Capital Corp owned about 0.92% of Marchex worth $616,000 at the end of the most recent quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

Marchex Company Profile

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.