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

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

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

MiX Telematics Price Performance

Shares of MIXT stock opened at $14.55 on Friday. The stock has a market capitalization of $353.75 million, a price-to-earnings ratio of 58.20 and a beta of 1.15. The company’s fifty day simple moving average is $14.55 and its two-hundred day simple moving average is $11.86. MiX Telematics has a 1 year low of $4.75 and a 1 year high of $14.85.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Cannell Capital LLC bought a new position in shares of MiX Telematics in the 4th quarter worth $7,718,000. Hsbc Holdings PLC bought a new position in shares of MiX Telematics during the 4th quarter valued at about $1,757,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV purchased a new position in shares of MiX Telematics during the 4th quarter valued at about $1,753,000. Kopion Asset Management LLC lifted its position in MiX Telematics by 5.6% in the 4th 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 during the last quarter. Finally, Harber Asset Management LLC grew its position in MiX Telematics by 6.6% during the fourth quarter. Harber Asset Management LLC now owns 703,202 shares of the technology company’s stock valued at $6,055,000 after acquiring an additional 43,436 shares during the last quarter. 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.