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

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

MiX Telematics Price Performance

Shares of MIXT stock opened at $14.55 on Tuesday. The business has a fifty day simple moving average of $14.55 and a 200 day simple moving average of $12.67. 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 twelve month low of $4.75 and a twelve month high of $14.85.

Institutional Investors Weigh In On MiX Telematics

Hedge funds have recently made changes to their positions in the stock. Black Maple Capital Management LP bought a new position in MiX Telematics in the 4th quarter valued at approximately $369,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new stake in MiX Telematics during the 4th quarter worth $1,753,000. Hsbc Holdings PLC acquired a new position in MiX Telematics in the 4th quarter worth about $1,757,000. Harber Asset Management LLC raised 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 valued at $6,055,000 after purchasing an additional 43,436 shares during the last quarter. Finally, Cannell Capital LLC acquired a new stake in shares of MiX Telematics during the fourth quarter valued at about $7,718,000. 45.72% of the stock is currently owned by institutional investors and hedge funds.

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.