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

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

MiX Telematics Stock Performance

MiX Telematics stock opened at $14.55 on Tuesday. MiX Telematics has a 52-week low of $4.75 and a 52-week high of $14.85. The firm has a 50 day moving average price of $14.55 and a two-hundred day moving average price of $14.13. The firm has a market cap of $353.75 million, a price-to-earnings ratio of 58.20 and a beta of 1.15.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MIXT. Hsbc Holdings PLC bought a new position in MiX Telematics during the 4th quarter worth approximately $1,757,000. Harber Asset Management LLC raised its holdings in 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. Cannell Capital LLC bought a new stake in shares of MiX Telematics in the 4th quarter valued at $7,718,000. Black Maple Capital Management LP bought a new stake in shares of MiX Telematics in the 4th quarter valued at $369,000. Finally, Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new stake in shares of MiX Telematics in the 4th quarter valued at $1,753,000. 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.