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

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

Hedge Funds Weigh In On Marchex

A hedge fund recently bought a new position in Marchex stock. Acuitas Investments LLC bought a new position in shares of Marchex, Inc. (NASDAQ:MCHX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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 holding. Acuitas Investments LLC owned about 0.30% of Marchex at the end of the most recent reporting period. 73.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Marchex Trading Up 3.4%

Shares of NASDAQ MCHX opened at $1.36 on Tuesday. The stock has a market cap of $60.52 million, a P/E ratio of -11.18 and a beta of 1.86. The business’s fifty day simple moving average is $1.66 and its 200-day simple moving average is $1.62. Marchex has a 12-month low of $1.15 and a 12-month high of $2.04.

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). Marchex had a negative return on equity of 18.25% and a negative net margin of 12.44%.The company had revenue of $11.00 million for the quarter, compared to analyst estimates of $11.20 million.

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.