MiX Telematics (NYSE:MIXT) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of MiX Telematics (NYSE:MIXT) in a research report sent to investors on Sunday. The firm issued a buy rating on the technology company’s stock.

Separately, Raymond James increased their target price on shares of MiX Telematics from $8.00 to $12.00 and gave the stock an outperform rating in a research note on Wednesday, March 13th.

MiX Telematics Stock Performance

MIXT stock remained flat at $14.55 during midday trading on Friday. The firm has a market capitalization of $353.75 million, a PE ratio of 58.20 and a beta of 1.15. MiX Telematics has a 52 week low of $4.75 and a 52 week high of $14.85. The stock’s fifty day moving average is $13.55 and its two-hundred day moving average is $9.68.

Hedge Funds Weigh In On MiX Telematics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in shares of MiX Telematics in the 4th quarter valued at about $43,000. Black Maple Capital Management LP acquired a new position in MiX Telematics in the 4th quarter valued at approximately $369,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new stake in shares of MiX Telematics during the 4th quarter valued at $1,753,000. Hsbc Holdings PLC purchased a new position in shares of MiX Telematics during the 4th quarter valued at $1,757,000. Finally, Penn Mutual Asset Management LLC increased its stake in shares of MiX Telematics by 9.2% in the third quarter. Penn Mutual Asset Management LLC now owns 535,219 shares of the technology company’s stock worth $2,954,000 after acquiring an additional 45,000 shares during the last quarter. Institutional investors and hedge funds own 45.72% of the company’s stock.

About MiX Telematics

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.