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

Investment analysts at StockNews.com began coverage on shares of MiX Telematics (NYSE:MIXT) in a research report issued to clients and investors on Friday. The brokerage set a “buy” rating on the technology company’s stock.

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

MiX Telematics Stock Performance

Shares of NYSE:MIXT 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 one year low of $4.75 and a one year high of $14.85. The business’s 50-day simple moving average is $14.55 and its 200 day simple moving average is $11.54.

Institutional Investors Weigh In On MiX Telematics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC acquired a new position in shares of MiX Telematics in the 4th quarter worth approximately $1,757,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new position in shares of MiX Telematics in the 4th quarter worth approximately $1,753,000. FNY Investment Advisers LLC acquired a new position in shares of MiX Telematics in the 4th quarter worth approximately $43,000. Kopion Asset Management LLC grew 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 worth $8,828,000 after acquiring 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 worth approximately $7,718,000. 45.72% of the stock is currently owned by hedge funds and other institutional investors.

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.