MiX Telematics (NYSE:MIXT) Research Coverage Started at StockNews.com

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

MiX Telematics Stock Performance

MiX Telematics stock opened at $14.55 on Wednesday. The firm has a market capitalization of $353.75 million, a PE ratio of 58.20 and a beta of 1.15. MiX Telematics has a 12-month low of $4.75 and a 12-month high of $14.85. The firm has a 50-day moving average price of $14.55 and a 200-day moving average price of $12.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC purchased a new position in MiX Telematics in the fourth quarter worth $1,757,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV purchased a new position in MiX Telematics during the 4th quarter worth $1,753,000. Cannell Capital LLC acquired a new position in MiX Telematics during the 4th quarter valued at about $7,718,000. Black Maple Capital Management LP purchased a new stake in MiX Telematics in the fourth quarter valued at about $369,000. Finally, Harber Asset Management LLC grew its stake in shares of MiX Telematics by 6.6% during the fourth quarter. Harber Asset Management LLC now owns 703,202 shares of the technology company’s stock worth $6,055,000 after acquiring an additional 43,436 shares during the last quarter. Hedge funds and other 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.