MiX Telematics (NYSE:MIXT) Now Covered by Analysts at StockNews.com

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

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

MiX Telematics Trading Up 2.5 %

Shares of NYSE:MIXT opened at $14.55 on Thursday. The business has a 50-day moving average price of $14.55 and a 200 day moving average price of $11.29. The company has a market capitalization of $353.75 million, a price-to-earnings ratio of 58.20 and a beta of 1.15. MiX Telematics has a 12-month low of $4.75 and a 12-month high of $14.85.

Hedge Funds Weigh In On MiX Telematics

Institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in shares of MiX Telematics during the fourth quarter worth about $43,000. Black Maple Capital Management LP acquired a new position in shares of MiX Telematics during the fourth quarter worth about $369,000. Harber Asset Management LLC grew its position in shares of MiX Telematics by 6.6% during the fourth quarter. Harber Asset Management LLC now owns 703,202 shares of the technology company’s stock worth $6,055,000 after buying an additional 43,436 shares in the last quarter. Penn Mutual Asset Management LLC grew its position in shares of MiX Telematics by 9.2% during the third quarter. Penn Mutual Asset Management LLC now owns 535,219 shares of the technology company’s stock worth $2,954,000 after buying an additional 45,000 shares in the last quarter. Finally, Kopion Asset Management LLC grew its position in shares of MiX Telematics by 5.6% during the fourth quarter. Kopion Asset Management LLC now owns 1,025,321 shares of the technology company’s stock worth $8,828,000 after buying an additional 53,963 shares in the last quarter. 45.72% of the stock is 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.