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

StockNews.com assumed coverage on shares of MiX Telematics (NYSE:MIXT) in a research report sent to investors on Saturday morning. The brokerage issued a buy rating on the technology company’s stock.

Separately, Raymond James boosted their target price on shares of MiX Telematics from $8.00 to $12.00 and gave the company an outperform rating in a research note on Wednesday, March 13th.

MiX Telematics Stock Performance

Shares of MIXT opened at $14.55 on Friday. MiX Telematics has a 1 year low of $4.75 and a 1 year high of $14.85. The firm has a fifty day moving average of $14.55 and a 200-day moving average of $11.82. The company has a market cap of $353.75 million, a price-to-earnings ratio of 58.20 and a beta of 1.15.

Institutional Trading of MiX Telematics

Several hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new position in shares of MiX Telematics during the fourth quarter valued at $43,000. Black Maple Capital Management LP bought a new position in MiX Telematics in the 4th quarter valued at about $369,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new stake in shares of MiX Telematics during the 4th quarter worth about $1,753,000. Hsbc Holdings PLC acquired a new stake in shares of MiX Telematics in the 4th quarter worth approximately $1,757,000. Finally, Harber Asset Management LLC boosted its holdings in shares of MiX Telematics by 6.6% in the fourth 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 in the last quarter. 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.