MiX Telematics (NYSE:MIXT) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of MiX Telematics (NYSE:MIXT) in a research report issued on Monday. The firm set a “buy” rating on the technology company’s stock.

MiX Telematics Price Performance

Shares of NYSE MIXT opened at $14.55 on Monday. MiX Telematics has a 1-year low of $4.75 and a 1-year high of $14.85. The business’s 50 day moving average is $14.55 and its two-hundred day moving average is $14.02. The stock has a market capitalization of $353.75 million, a P/E ratio of 58.20 and a beta of 1.15.

Institutional Trading of MiX Telematics

Several hedge funds and other institutional investors have recently bought and sold shares of MIXT. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new position in MiX Telematics during the 4th quarter valued at about $1,753,000. Black Maple Capital Management LP purchased a new stake in shares of MiX Telematics in the fourth quarter worth approximately $369,000. Cannell Capital LLC bought a new stake in shares of MiX Telematics during the 4th quarter worth approximately $7,718,000. Harber Asset Management LLC boosted its holdings in MiX Telematics by 6.6% during the 4th 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 during the period. Finally, Hsbc Holdings PLC bought a new position in MiX Telematics in the 4th quarter valued at $1,757,000. 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.