StockNews.com Initiates Coverage on MiX Telematics (NYSE:MIXT)

Equities researchers at StockNews.com initiated coverage on shares of MiX Telematics (NYSE:MIXT) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating on the technology company’s stock.

MiX Telematics Stock Performance

NYSE MIXT opened at $14.55 on Wednesday. The firm has a market cap of $353.75 million, a PE ratio of 58.20 and a beta of 1.15. MiX Telematics has a 1-year low of $4.75 and a 1-year high of $14.85. The stock has a 50-day moving average of $14.55 and a 200-day moving average of $12.87.

Institutional Investors Weigh In On MiX Telematics

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

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.