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

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

MiX Telematics Price Performance

Shares of MiX Telematics stock opened at $14.55 on Thursday. The firm has a 50 day simple moving average of $14.55 and a 200 day simple moving average of $14.52. 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 P/E ratio of 58.20 and a beta of 1.15.

Institutional Trading of MiX Telematics

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

About MiX Telematics

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.