Marchex, Inc. (NASDAQ:MCHX) Stock Short Interest Report for September

Marchex, Inc. (NASDAQ:MCHX) saw a significant drop in short interest in September. As of September 30th, there was short interest totaling 37,732 shares, a drop of 43.1% from the September 15th total of 66,288 shares. Based on an average trading volume of 77,181 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the company’s stock are sold short.

Marchex Price Performance

Shares of MCHX stock traded down $0.04 on Thursday, hitting $1.23. 24,287 shares of the stock traded hands, compared to its average volume of 24,279. The company’s fifty day moving average is $1.54 and its 200 day moving average is $1.61. Marchex has a 1-year low of $1.15 and a 1-year high of $2.00. The company has a market capitalization of $54.72 million, a PE ratio of -10.33 and a beta of 1.90.

Marchex (NASDAQ:MCHX) last posted its quarterly 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). Marchex had a negative net margin of 12.44% and a negative return on equity of 18.25%. The business had revenue of $11.00 million during the quarter, compared to analyst estimates of $11.20 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Marchex in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce”.

Institutional Investors Weigh In On Marchex

A hedge fund recently bought a new position in Marchex stock. Acuitas Investments LLC acquired a new position in shares of Marchex, Inc. (NASDAQ:MCHX) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 133,702 shares of the technology company’s stock, valued at approximately $207,000. Marchex accounts for about 14.7% of Acuitas Investments LLC’s holdings, making the stock its 3rd largest position. Acuitas Investments LLC owned approximately 0.30% of Marchex at the end of the most recent reporting period. 73.46% of the stock is currently owned by institutional investors and hedge funds.

About Marchex

Marchex, Inc is a conversation intelligence and analytics company that helps businesses understand and improve customer interactions. Its technology uses artificial intelligence, speech analytics, and automation to analyze conversations across phone calls, text messages, and other communication channels.

The company provides solutions designed to help organizations generate and manage leads, evaluate customer service and sales performance, identify buying intent, and improve marketing attribution.