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

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

MiX Telematics Price Performance

NYSE:MIXT opened at $14.55 on Thursday. MiX Telematics has a one year low of $4.75 and a one year high of $14.85. The company has a market cap of $353.75 million, a PE ratio of 58.20 and a beta of 1.15. The firm has a 50-day moving average of $14.55 and a 200-day moving average of $13.18.

Institutional Investors Weigh In On MiX Telematics

A number of institutional investors and hedge funds have recently made changes to their positions in MIXT. Cannell Capital LLC acquired a new stake in shares of MiX Telematics in the 4th quarter worth about $7,718,000. Hsbc Holdings PLC acquired a new stake in shares of MiX Telematics in the 4th quarter worth about $1,757,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new stake in shares of MiX Telematics in the 4th quarter worth about $1,753,000. Harber Asset Management LLC raised its holdings in shares of MiX Telematics by 6.6% in the 4th 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. Finally, Black Maple Capital Management LP acquired a new stake in shares of MiX Telematics in the 4th quarter worth about $369,000. 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.