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

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

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

MiX Telematics Stock Performance

MiX Telematics stock opened at $14.55 on Friday. MiX Telematics has a 12 month low of $4.75 and a 12 month high of $14.85. The stock’s 50 day simple moving average is $14.55 and its two-hundred day simple moving average is $11.78. The firm has a market cap of $353.75 million, a PE ratio of 58.20 and a beta of 1.15.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in MiX Telematics in the 4th quarter valued at $43,000. Black Maple Capital Management LP acquired a new position in MiX Telematics in the 4th quarter valued at $369,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new position in MiX Telematics in the 4th quarter valued at $1,753,000. Hsbc Holdings PLC acquired a new position in MiX Telematics in the 4th quarter valued at $1,757,000. Finally, Harber Asset Management LLC raised its stake 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 valued at $6,055,000 after purchasing an additional 43,436 shares during the last quarter. 45.72% of the stock is owned by institutional investors and hedge funds.

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.