Marchex, Inc. (NASDAQ:MCHX) Shares Shorted: Short Interest Up 132.0% in September

Marchex, Inc. (NASDAQ:MCHX – Get Free Report) was the recipient of a large increase in short interest during 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. Based on an average daily volume of 36,315 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.2% of the shares of the stock are short sold.

Marchex Price Performance

Shares of Marchex stock remained flat at $1.31 on Friday. The stock had a trading volume of 15,626 shares, compared to its average volume of 60,088. The stock’s fifty day moving average is $1.67 and its 200-day moving average is $1.62. The stock has a market cap of $58.08 million, a PE ratio of -10.92 and a beta of 1.86. Marchex has a fifty-two week low of $1.15 and a fifty-two week high of $2.04.

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Marchex (NASDAQ:MCHX – Get Free Report) 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 company had revenue of $11.00 million during the quarter, compared to analyst estimates of $11.20 million.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Marchex stock. Kanen Wealth Management LLC lifted its stake in shares of Marchex, Inc. (NASDAQ:MCHX – Free Report) by 4.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,300,388 shares of the technology company’s stock after acquiring an additional 50,989 shares during the period. Marchex accounts for approximately 0.7% of Kanen Wealth Management LLC’s portfolio, making the stock its 22nd biggest position. Kanen Wealth Management LLC owned about 2.96% of Marchex worth $2,016,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 73.46% of the company’s stock.

Wall Street Analyst Weigh In

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

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About Marchex

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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.

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