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

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

MiX Telematics Trading Up 2.5 %

MIXT stock opened at $14.55 on Thursday. MiX Telematics has a 12-month low of $4.75 and a 12-month high of $14.85. The stock has a market cap of $353.75 million, a price-to-earnings ratio of 58.20 and a beta of 1.15. The business’s 50-day moving average is $14.55 and its 200 day moving average is $13.18.

Institutional Investors Weigh In On MiX Telematics

Several institutional investors have recently bought and sold shares of MIXT. Black Maple Capital Management LP acquired a new position in shares of MiX Telematics during the 4th quarter worth approximately $369,000. Harber Asset Management LLC boosted its holdings in shares of MiX Telematics by 6.6% during the 4th quarter. Harber Asset Management LLC now owns 703,202 shares of the technology company’s stock worth $6,055,000 after purchasing an additional 43,436 shares during the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new position in shares of MiX Telematics during the 4th quarter worth approximately $1,753,000. Hsbc Holdings PLC acquired a new position in shares of MiX Telematics during the 4th quarter worth approximately $1,757,000. Finally, Cannell Capital LLC acquired a new position in shares of MiX Telematics during the 4th quarter worth approximately $7,718,000. 45.72% of the stock is currently owned by institutional investors and hedge funds.

MiX Telematics Company Profile

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.