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

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

MiX Telematics Price Performance

Shares of MiX Telematics stock opened at $14.55 on Wednesday. The firm has a market cap of $353.75 million, a price-to-earnings ratio of 58.20 and a beta of 1.15. The stock’s 50-day moving average is $14.55 and its 200 day moving average is $12.88. MiX Telematics has a one year low of $4.75 and a one year high of $14.85.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Black Maple Capital Management LP bought a new stake in MiX Telematics in the fourth quarter valued at $369,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new position in MiX Telematics during the 4th quarter worth approximately $1,753,000. Hsbc Holdings PLC bought a new position in MiX Telematics in the fourth quarter worth approximately $1,757,000. Harber Asset Management LLC grew its stake 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 acquiring an additional 43,436 shares during the period. Finally, Cannell Capital LLC bought a new stake in shares of MiX Telematics during the fourth quarter valued at approximately $7,718,000. Institutional investors and hedge funds own 45.72% of the company’s stock.

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.