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

StockNews.com assumed coverage on shares of MiX Telematics (NYSE:MIXT) in a research report report published on Friday. The firm issued a buy rating on the technology company’s stock.

MiX Telematics Price Performance

Shares of MIXT remained flat at $14.55 during trading hours on Friday. The firm has a market cap of $353.75 million, a price-to-earnings ratio of 58.20 and a beta of 1.15. MiX Telematics has a twelve month low of $4.75 and a twelve month high of $14.85. The company has a 50-day simple moving average of $14.55 and a two-hundred day simple moving average of $13.33.

Hedge Funds Weigh In On MiX Telematics

Institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC acquired a new stake in MiX Telematics during the 4th quarter worth about $1,757,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new stake in MiX Telematics in the 4th quarter worth approximately $1,753,000. Cannell Capital LLC acquired a new stake in MiX Telematics in the 4th quarter worth approximately $7,718,000. Black Maple Capital Management LP acquired a new stake in MiX Telematics in the 4th quarter worth approximately $369,000. Finally, Harber Asset Management LLC lifted its holdings in MiX Telematics by 6.6% in the 4th quarter. Harber Asset Management LLC now owns 703,202 shares of the technology company’s stock worth $6,055,000 after purchasing an additional 43,436 shares during the last quarter. 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.