MiX Telematics (NYSE:MIXT) Now Covered by StockNews.com

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

MiX Telematics Price Performance

Shares of MIXT stock opened at $14.55 on Thursday. The stock’s fifty day simple moving average is $14.55 and its 200 day simple moving average is $14.52. MiX Telematics has a one year low of $4.75 and a one year high of $14.85. The firm has a market cap of $353.75 million, a price-to-earnings ratio of 58.20 and a beta of 1.15.

Institutional Investors Weigh In On MiX Telematics

A number of hedge funds have recently made changes to their positions in MIXT. Cannell Capital LLC bought a new stake in MiX Telematics during the fourth quarter worth about $7,718,000. Hsbc Holdings PLC acquired a new stake in MiX Telematics during the 4th quarter valued at $1,757,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new position in MiX Telematics in the 4th quarter valued at $1,753,000. Harber Asset Management LLC raised its position 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. Finally, Black Maple Capital Management LP acquired a new position in MiX Telematics in the fourth quarter worth $369,000. Institutional investors and hedge funds 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.