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 to investors on Friday. The brokerage set a “buy” rating on the technology company’s stock.

MiX Telematics Price Performance

Shares of NYSE MIXT opened at $14.55 on Friday. The company has a 50 day simple moving average of $14.55 and a 200-day simple moving average of $14.55. The company has a market capitalization of $353.75 million, a P/E ratio of 58.20 and a beta of 1.15. MiX Telematics has a 1 year low of $4.75 and a 1 year high of $14.85.

Hedge Funds Weigh In On MiX Telematics

An institutional investor recently bought a new position in MiX Telematics stock. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV purchased a new stake in MiX Telematics Limited (NYSE:MIXT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 203,574 shares of the technology company’s stock, valued at approximately $1,753,000. MiX Telematics accounts for approximately 0.1% of Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s holdings, making the stock its 17th largest holding. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV owned approximately 0.92% of MiX Telematics as of its most recent SEC filing. 45.72% of the stock is currently owned by hedge funds and other institutional investors.

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.