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

Research analysts at StockNews.com began coverage on shares of MiX Telematics (NYSE:MIXT) in a research note issued on Tuesday. The firm set a “buy” rating on the technology company’s stock.

MiX Telematics Stock Performance

NYSE:MIXT opened at $14.55 on Tuesday. The stock’s 50-day moving average is $14.55 and its 200-day moving average is $14.20. MiX Telematics has a 1-year low of $4.75 and a 1-year high of $14.85. The stock has a market cap of $353.75 million, a P/E ratio of 58.20 and a beta of 1.15.

Institutional Trading of MiX Telematics

Institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC bought a new position in shares of MiX Telematics during the fourth quarter worth about $1,757,000. Harber Asset Management LLC lifted 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 worth $6,055,000 after purchasing an additional 43,436 shares during the period. Cannell Capital LLC acquired a new stake in shares of MiX Telematics during the fourth quarter worth $7,718,000. Black Maple Capital Management LP bought a new position in MiX Telematics during the fourth quarter worth $369,000. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new position in MiX Telematics during the fourth quarter worth $1,753,000. Institutional investors own 45.72% of the company’s stock.

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.