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

Equities research analysts at StockNews.com started coverage on shares of MiX Telematics (NYSE:MIXTGet Free Report) in a research report issued on Friday. The firm set a “buy” rating on the technology company’s stock.

Separately, Raymond James increased their price objective on shares of MiX Telematics from $8.00 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th.

Check Out Our Latest Analysis on MIXT

MiX Telematics Stock Performance

Shares of NYSE MIXT opened at $14.55 on Friday. The firm has a market cap of $353.75 million, a PE ratio of 58.20 and a beta of 1.15. MiX Telematics has a 1-year low of $4.75 and a 1-year high of $14.85. The company has a fifty day moving average price of $14.55 and a 200 day moving average price of $11.54.

Hedge Funds Weigh In On MiX Telematics

A number of large investors have recently modified their holdings of MIXT. FNY Investment Advisers LLC acquired a new stake in MiX Telematics in the 4th quarter valued at about $43,000. Black Maple Capital Management LP bought a new position in MiX Telematics in the 4th quarter valued at about $369,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new position in MiX Telematics in the 4th quarter valued at about $1,753,000. Hsbc Holdings PLC bought a new position in MiX Telematics in the 4th quarter valued at about $1,757,000. Finally, Penn Mutual Asset Management LLC raised its holdings in MiX Telematics by 9.2% in the 3rd quarter. Penn Mutual Asset Management LLC now owns 535,219 shares of the technology company’s stock valued at $2,954,000 after acquiring an additional 45,000 shares during the period. 45.72% of the stock is currently owned by institutional investors and hedge funds.

About MiX Telematics

(Get Free Report)

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.

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