StockNews.com initiated coverage on shares of MiX Telematics (NYSE:MIXT – Free Report) in a research report sent to investors on Tuesday morning. The firm issued a buy rating on the technology company’s stock.
MiX Telematics Stock Performance
Shares of MIXT opened at $14.55 on Tuesday. MiX Telematics has a fifty-two week low of $4.75 and a fifty-two week high of $14.85. The company has a market capitalization of $353.75 million, a price-to-earnings ratio of 58.20 and a beta of 1.15. The firm has a 50-day simple moving average of $14.55 and a 200-day simple moving average of $14.20.
Institutional Investors Weigh In On MiX Telematics
Several hedge funds have recently made changes to their positions in MIXT. Cannell Capital LLC acquired a new stake in MiX Telematics in the fourth quarter valued at about $7,718,000. Hsbc Holdings PLC acquired a new stake in MiX Telematics in the fourth quarter valued at about $1,757,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new stake in MiX Telematics in the fourth quarter valued at about $1,753,000. Harber Asset Management LLC lifted 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 period. Finally, Black Maple Capital Management LP acquired a new stake in MiX Telematics in the fourth quarter valued at about $369,000. Institutional investors and hedge funds 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.
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