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

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

MiX Telematics Price Performance

MiX Telematics stock opened at $14.55 on Friday. The company has a market capitalization of $353.75 million, a PE ratio of 58.20 and a beta of 1.15. The firm has a fifty day simple moving average of $14.55 and a two-hundred day simple moving average of $14.55. MiX Telematics has a twelve month low of $4.75 and a twelve month high of $14.85.

Hedge Funds Weigh In On MiX Telematics

A hedge fund recently bought a new stake in MiX Telematics stock. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV purchased a new stake in MiX Telematics Limited (NYSE:MIXT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 203,574 shares of the technology company’s stock, valued at approximately $1,753,000. MiX Telematics comprises approximately 0.1% of Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s investment portfolio, making the stock its 17th biggest position. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV owned 0.92% of MiX Telematics at the end of the most recent reporting period. 45.72% of the stock is currently owned by 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.