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

StockNews.com started coverage on shares of MiX Telematics (NYSE:MIXT) in a research note issued to investors on Saturday. The brokerage issued a buy rating on the technology company’s stock.

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

MiX Telematics Stock Performance

MiX Telematics stock opened at $14.55 on Friday. The company has a market cap of $353.75 million, a P/E 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. The company has a fifty day simple moving average of $14.55 and a 200 day simple moving average of $11.91.

Institutional Trading of MiX Telematics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC acquired a new stake in MiX Telematics in the 4th quarter worth about $1,757,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new position in shares of MiX Telematics in the 4th quarter valued at approximately $1,753,000. FNY Investment Advisers LLC acquired a new position in shares of MiX Telematics in the 4th quarter valued at approximately $43,000. Kopion Asset Management LLC raised its position in shares of MiX Telematics by 5.6% in the 4th quarter. Kopion Asset Management LLC now owns 1,025,321 shares of the technology company’s stock valued at $8,828,000 after buying an additional 53,963 shares in the last quarter. Finally, Cannell Capital LLC acquired a new position in shares of MiX Telematics in the 4th quarter valued at approximately $7,718,000. 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.