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

StockNews.com initiated coverage on shares of MiX Telematics (NYSE:MIXT) in a research report report published on Thursday. The brokerage issued a buy rating on the technology company’s stock.

Separately, Raymond James raised their target price on shares of MiX Telematics from $8.00 to $12.00 and gave the company an outperform rating in a report on Wednesday, March 13th.

MiX Telematics Stock Performance

MIXT stock opened at $14.55 on Thursday. The firm has a fifty day moving average price of $14.55 and a 200 day moving average price of $11.29. 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 PE ratio of 58.20 and a beta of 1.15.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MIXT. Penn Mutual Asset Management LLC increased its position in MiX Telematics by 9.2% during the third quarter. Penn Mutual Asset Management LLC now owns 535,219 shares of the technology company’s stock valued at $2,954,000 after acquiring an additional 45,000 shares during the last quarter. Kopion Asset Management LLC increased its position in MiX Telematics by 5.6% during the fourth quarter. Kopion Asset Management LLC now owns 1,025,321 shares of the technology company’s stock valued at $8,828,000 after acquiring an additional 53,963 shares during the last quarter. FNY Investment Advisers LLC bought a new position in MiX Telematics during the fourth quarter valued at $43,000. Hsbc Holdings PLC bought a new position in MiX Telematics during the fourth quarter valued at $1,757,000. Finally, Harber Asset Management LLC increased its position in MiX Telematics by 6.6% during the fourth quarter. Harber Asset Management LLC now owns 703,202 shares of the technology company’s stock valued at $6,055,000 after acquiring an additional 43,436 shares during the last quarter. 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.