Marchex, Inc. (NASDAQ:MCHX) Shares Shorted: Short Interest Down 43.1% in September

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

Marchex Stock Performance

MCHX traded up $0.04 during trading hours on Friday, reaching $1.26. The company’s stock had a trading volume of 56,481 shares, compared to its average volume of 24,509. The company’s 50-day moving average is $1.52 and its 200-day moving average is $1.60. The firm has a market cap of $55.87 million, a PE ratio of -10.50 and a beta of 1.90. Marchex has a 52 week low of $1.15 and a 52 week high of $2.00.

Marchex (NASDAQ:MCHX) last announced its quarterly earnings results on Wednesday, August 12th. The technology company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $11.00 million during the quarter, compared to analyst estimates of $11.20 million.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Marchex in a report on Thursday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Marchex currently has an average rating of “Reduce”.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Marchex stock. Kanen Wealth Management LLC grew its position in Marchex, Inc. (NASDAQ:MCHX) by 4.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,300,388 shares of the technology company’s stock after buying an additional 50,989 shares during the quarter. Marchex accounts for about 0.7% of Kanen Wealth Management LLC’s portfolio, making the stock its 22nd largest holding. Kanen Wealth Management LLC owned about 2.96% of Marchex worth $2,016,000 at the end of the most recent reporting period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

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.