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

by · The Cerbat Gem

StockNews.com started coverage on shares of MiX Telematics (NYSE:MIXT – Get Free Report) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating on the technology company’s stock.

MiX Telematics Price Performance

MIXT opened at $14.55 on Wednesday. The company’s 50-day moving average price is $14.55 and its 200 day moving average price is $14.38. MiX Telematics has a fifty-two week low of $4.75 and a fifty-two week 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

Several large investors have recently added to or reduced their stakes in MIXT. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new position in shares of MiX Telematics during the fourth quarter worth about $1,753,000. Black Maple Capital Management LP acquired a new position in MiX Telematics during the 4th quarter valued at about $369,000. Cannell Capital LLC acquired a new position in MiX Telematics during the 4th quarter valued at about $7,718,000. Harber Asset Management LLC grew 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 worth $6,055,000 after purchasing an additional 43,436 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of MiX Telematics in the fourth quarter valued at approximately $1,757,000. 45.72% of the stock is owned by institutional investors and hedge funds.

MiX Telematics Company Profile

(Get Free Report)

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.

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