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

StockNews.com initiated coverage on shares of MiX Telematics (NYSE:MIXT) in a research note published on Thursday morning. The brokerage issued a buy rating on the technology company’s stock.

MiX Telematics Stock Performance

Shares of MIXT opened at $14.55 on Thursday. MiX Telematics has a 12 month low of $4.75 and a 12 month high of $14.85. The firm’s 50 day moving average is $14.55 and its 200-day moving average is $13.15. The stock has a market capitalization of $353.75 million, a PE ratio of 58.20 and a beta of 1.15.

Institutional Trading of MiX Telematics

A number of institutional investors have recently modified their holdings of MIXT. Black Maple Capital Management LP bought a new position in shares of MiX Telematics in the fourth quarter worth $369,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new stake in MiX Telematics during the fourth quarter worth about $1,753,000. Hsbc Holdings PLC bought a new position in MiX Telematics in the 4th quarter valued at about $1,757,000. Harber Asset Management LLC raised its position 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 buying an additional 43,436 shares in the last quarter. Finally, Cannell Capital LLC acquired a new position in shares of MiX Telematics in the 4th quarter valued at approximately $7,718,000. 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.