MiX Telematics (NYSE:MIXT) Coverage Initiated at StockNews.com

Analysts at StockNews.com started coverage on shares of MiX Telematics (NYSE:MIXT) in a research report issued on Wednesday. The firm set a “buy” rating on the technology company’s stock.

MiX Telematics Price Performance

Shares of MIXT stock opened at $14.55 on Wednesday. MiX Telematics has a fifty-two week low of $4.75 and a fifty-two week high of $14.85. The firm’s 50 day moving average price is $14.55 and its two-hundred day moving average price is $14.38. The stock has a market cap of $353.75 million, a price-to-earnings ratio of 58.20 and a beta of 1.15.

Institutional Investors Weigh In On MiX Telematics

Hedge funds have recently modified their holdings of the stock. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV purchased a new stake in MiX Telematics during the 4th quarter worth $1,753,000. Black Maple Capital Management LP purchased a new position in MiX Telematics in the fourth quarter valued at about $369,000. Cannell Capital LLC acquired a new stake in MiX Telematics during the 4th quarter valued at approximately $7,718,000. Harber Asset Management LLC grew its stake in MiX Telematics by 6.6% during the 4th quarter. Harber Asset Management LLC now owns 703,202 shares of the technology company’s stock valued at $6,055,000 after purchasing an additional 43,436 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of MiX Telematics during the 4th quarter valued at approximately $1,757,000. 45.72% of the stock is currently owned by hedge funds and other institutional investors.

MiX Telematics Company Profile

MiX Telematics Limited, together with its subsidiaries, provides fleet and mobile asset management solutions through software-as-a-service (SaaS) delivery model. It offers MiX Fleet Manager, a commercial fleet management solution comprising MyMiX, an innovative driver engagement platform; MiX Vision, an on-road and in-vehicle video recording solution; MiX Rovi, an in-vehicle display and communications system; MiX RIBAS and DriveMate, an in-cab driving aid solution; MiX Hours of Service, which allows real-time monitoring and compliance; MiX Journey Management, an easy-to-use electronic alternative to paper-based systems; and MiX OEM Connect allows customer instant, direct integration to relevant, and powerful telematics data.