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

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

Separately, Raymond James lifted their price objective on MiX Telematics from $8.00 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th.

MiX Telematics Trading Up 2.5 %

MiX Telematics stock opened at $14.55 on Friday. The firm has a 50 day simple moving average of $14.55 and a 200 day simple moving average of $11.86. MiX Telematics has a 1-year low of $4.75 and a 1-year high of $14.85. The firm has a market capitalization 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in MIXT. Kopion Asset Management LLC raised its stake in MiX Telematics by 5.6% during the 4th quarter. Kopion Asset Management LLC now owns 1,025,321 shares of the technology company’s stock valued at $8,828,000 after purchasing an additional 53,963 shares during the period. FNY Investment Advisers LLC bought a new position in shares of MiX Telematics in the fourth quarter worth about $43,000. Hsbc Holdings PLC purchased a new position in MiX Telematics during the 4th quarter worth $1,757,000. Harber Asset Management LLC raised its holdings in shares of MiX Telematics by 6.6% in 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, Cannell Capital LLC purchased a new stake in shares of MiX Telematics during the 4th quarter worth $7,718,000. Hedge funds and other institutional investors own 45.72% of the company’s stock.

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.