MiX Telematics (NYSE:MIXT) had its target price raised by equities research analysts at Raymond James from $24.00 to $28.00 in a research note issued on Friday. The firm currently has a “strong-buy” rating on the technology company’s stock. Raymond James’ price objective suggests a potential upside of 59.45% from the company’s current price.
A number of other research firms have also recently weighed in on MIXT. ValuEngine upgraded MiX Telematics from a “hold” rating to a “buy” rating in a research note on Saturday, September 1st. Zacks Investment Research upgraded MiX Telematics from a “sell” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, October 23rd.
Shares of MiX Telematics stock traded down $0.12 on Friday, reaching $17.56. 11,446 shares of the company were exchanged, compared to its average volume of 80,288. MiX Telematics has a one year low of $11.00 and a one year high of $21.00. The stock has a market cap of $402.10 million, a P/E ratio of 30.28 and a beta of 0.48.
A number of institutional investors and hedge funds have recently bought and sold shares of MIXT. RK Capital Management LLC bought a new stake in MiX Telematics in the 3rd quarter valued at $5,834,000. Disciplined Growth Investors Inc. MN grew its holdings in MiX Telematics by 27.7% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,033,908 shares of the technology company’s stock valued at $14,930,000 after buying an additional 224,161 shares in the last quarter. Renaissance Technologies LLC grew its holdings in MiX Telematics by 21.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,100,200 shares of the technology company’s stock valued at $19,496,000 after buying an additional 194,224 shares in the last quarter. Millennium Management LLC grew its holdings in MiX Telematics by 153.4% in the 2nd quarter. Millennium Management LLC now owns 219,264 shares of the technology company’s stock valued at $3,885,000 after buying an additional 132,747 shares in the last quarter. Finally, Quantum Capital Management grew its holdings in MiX Telematics by 88.2% in the 3rd quarter. Quantum Capital Management now owns 190,181 shares of the technology company’s stock valued at $2,746,000 after buying an additional 89,112 shares in the last quarter. Institutional investors and hedge funds own 35.74% of the company’s stock.
About MiX Telematics
MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.
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