Marchex, Inc. (NASDAQ:MCHX) Stock Short Interest Rises 132.0%

Marchex, Inc. (NASDAQ:MCHX) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 66,288 shares, a growth of 132.0% from the August 31st total of 28,578 shares. Based on an average daily trading volume, of 36,315 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.2% of the shares of the stock are sold short.

Marchex Stock Up 0.8%

NASDAQ:MCHX traded up $0.01 during trading hours on Monday, hitting $1.32. 33,561 shares of the stock were exchanged, compared to its average volume of 23,938. The company’s 50 day moving average is $1.67 and its two-hundred day moving average is $1.62. Marchex has a twelve month low of $1.15 and a twelve month high of $2.04. The company has a market capitalization of $58.53 million, a P/E ratio of -11.00 and a beta of 1.86.

Marchex (NASDAQ:MCHX) last released its earnings results on Wednesday, August 12th. The technology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $11.00 million during the quarter, compared to analyst estimates of $11.20 million. Marchex had a negative net margin of 12.44% and a negative return on equity of 18.25%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Marchex in a report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Marchex stock. Kanen Wealth Management LLC lifted its stake in Marchex, Inc. (NASDAQ:MCHX) by 4.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,300,388 shares of the technology company’s stock after purchasing an additional 50,989 shares during the period. Marchex accounts for approximately 0.7% of Kanen Wealth Management LLC’s holdings, making the stock its 22nd largest holding. Kanen Wealth Management LLC owned about 2.96% of Marchex worth $2,016,000 as of its most recent SEC filing. 73.46% of the stock is owned by hedge funds and other institutional investors.

Marchex Company Profile

Marchex, Inc (NASDAQ: MCHX) is a conversation intelligence and analytics company that helps businesses understand and improve customer interactions. Its technology analyzes phone calls, text messages and other customer conversations to provide insights into marketing performance, lead quality, sales opportunities and service experiences.

The company offers solutions designed to help organizations acquire, engage and retain customers. Its products support call tracking, lead management, conversation analytics and artificial intelligence-powered analysis, enabling businesses to identify buying signals, evaluate customer interactions and improve operational and marketing decisions.

Marchex has historically focused on performance marketing and call-based analytics, evolving from its earlier digital marketing activities toward software and data solutions for businesses that rely on customer conversations.