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

StockNews.com initiated coverage on shares of MiX Telematics (NYSE:MIXT) in a report released on Tuesday morning. The firm issued a buy rating on the technology company’s stock.

MiX Telematics Stock Performance

MIXT opened at $14.55 on Tuesday. The business’s 50-day simple moving average is $14.55 and its 200 day simple moving average is $14.16. MiX Telematics has a 52-week low of $4.75 and a 52-week high of $14.85. The firm has a market capitalization of $353.75 million, a PE ratio of 58.20 and a beta of 1.15.

Hedge Funds Weigh In On MiX Telematics

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

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.