Marchex, Inc. (NASDAQ:MCHX) Sees Large Decrease in Short Interest

Marchex, Inc. (NASDAQ:MCHX) was the target of a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 28,578 shares, a decrease of 35.6% from the August 15th total of 44,393 shares. Based on an average daily trading volume, of 18,895 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.1% of the company’s stock are short sold.

Marchex Trading Down 7.4%

Shares of NASDAQ:MCHX opened at $1.26 on Friday. Marchex has a 1-year low of $1.15 and a 1-year high of $2.04. The stock has a market cap of $55.87 million, a PE ratio of -10.50 and a beta of 1.86. The stock’s fifty day simple moving average is $1.71 and its two-hundred day simple moving average is $1.62.

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

Institutional Investors Weigh In On Marchex

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Marchex in a report on Friday, July 17th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

About Marchex

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.