MiX Telematics (NYSE:MIXT) Coverage Initiated by Analysts at StockNews.com

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

MiX Telematics Price Performance

Shares of MIXT opened at $14.55 on Friday. The firm has a market cap of $353.75 million, a P/E 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 stock has a 50 day simple moving average of $14.55 and a two-hundred day simple moving average of $14.55.

Institutional Investors Weigh In On MiX Telematics

A hedge fund recently bought a new stake in MiX Telematics stock. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV acquired a new stake in shares of MiX Telematics Limited (NYSE:MIXT) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 203,574 shares of the technology company’s stock, valued at approximately $1,753,000. MiX Telematics comprises about 0.1% of Investmentaktiengesellschaft Fuer Langfristige Investoren TGV’s investment portfolio, making the stock its 17th biggest position. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV owned about 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.