Short Interest in Marchex, Inc. (NASDAQ:MCHX) Decreases By 34.9%

Marchex, Inc. (NASDAQ:MCHX) was the target of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 51,800 shares, a drop of 34.9% from the October 31st total of 79,600 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average trading volume of 27,900 shares, the short-interest ratio is currently 1.9 days.

Hedge Funds Weigh In On Marchex

A hedge fund recently raised its stake in Marchex stock. P.A.W. Capital Corp grew its position in shares of Marchex, Inc. (NASDAQ:MCHX) by 14.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 400,000 shares of the technology company’s stock after buying an additional 51,000 shares during the period. Marchex makes up 1.5% of P.A.W. Capital Corp’s holdings, making the stock its 13th biggest position. P.A.W. Capital Corp owned 0.92% of Marchex worth $616,000 at the end of the most recent quarter. 73.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Marchex in a research note on Tuesday. They set a “hold” rating on the stock.

Marchex Stock Performance

NASDAQ:MCHX traded up $0.13 on Thursday, hitting $1.86. 41,867 shares of the stock were exchanged, compared to its average volume of 44,587. The stock has a market capitalization of $81.24 million, a price-to-earnings ratio of -20.66 and a beta of 1.96. The company’s 50-day moving average price is $1.79 and its 200 day moving average price is $1.69. Marchex has a 52 week low of $1.11 and a 52 week high of $2.16.

About Marchex

Marchex, Inc, a conversation intelligence company, provides conversational analytics and related solutions in the United States, Canada, and internationally. Its products include Marketing Edge that identifies which campaigns and channels are driving inbound conversations, evaluates what happens during those conversations, and closes the sales loop by connecting converted sales to marketing driven leads; Sonar Business Text Messaging, an artificial intelligence (AI) empowered intelligent workflow enabled mobile messaging solution that enables operations, sales, and marketing teams to communicate personally with field staff, prospects, and customers; Marchex Platform Services, a robust API-based conversation intelligence product that allows executives, sales, customer engagement, and marketing teams to apply Marchex AI to most any calls, regardless of communication platform, in order to identify actionable insights from conversations with their customers; Spotlight, an AI conversation analytics product for multi-location businesses; and Engage, a solution that provides locations with applications to enhance their overall performance.