MiX Telematics (NYSE:MIXT) Earns Buy Rating from Analysts at StockNews.com

Analysts at StockNews.com started coverage on shares of MiX Telematics (NYSE:MIXT) in a research note issued on Monday. The firm set a “buy” rating on the technology company’s stock.

MiX Telematics Price Performance

Shares of MiX Telematics stock opened at $14.55 on Monday. The business has a 50-day moving average of $14.55 and a 200-day moving average of $13.94. The company has a market capitalization of $353.75 million, a PE 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.

Institutional Investors Weigh In On MiX Telematics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIXT. Cannell Capital LLC acquired a new position in MiX Telematics in the fourth quarter worth approximately $7,718,000. Harber Asset Management LLC grew its position 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 worth $6,055,000 after buying an additional 43,436 shares during the last quarter. Hsbc Holdings PLC acquired a new position in MiX Telematics in the fourth quarter worth approximately $1,757,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new position in MiX Telematics in the fourth quarter worth approximately $1,753,000. Finally, Black Maple Capital Management LP purchased a new position in MiX Telematics during the 4th quarter worth approximately $369,000. Institutional investors own 45.72% of the company’s stock.

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.