Investment analysts at StockNews.com began coverage on shares of MiX Telematics (NYSE:MIXT – Get Free Report) in a research note issued on Thursday. The firm set a “buy” rating on the technology company’s stock.
MiX Telematics Stock Performance
Shares of MIXT stock opened at $14.55 on Thursday. MiX Telematics has a 52-week low of $4.75 and a 52-week high of $14.85. The company has a 50-day simple moving average of $14.55 and a two-hundred day simple moving average of $14.52. The company has a market capitalization of $353.75 million, a price-to-earnings ratio of 58.20 and a beta of 1.15.
Institutional Investors Weigh In On MiX Telematics
A number of institutional investors have recently added to or reduced their stakes in the company. Black Maple Capital Management LP purchased a new position in MiX Telematics in the fourth quarter valued at about $369,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV purchased a new position in MiX Telematics in the fourth quarter valued at about $1,753,000. Hsbc Holdings PLC purchased a new position in MiX Telematics in the fourth quarter valued at about $1,757,000. Harber Asset Management LLC boosted its stake in MiX Telematics by 6.6% in 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. Finally, Cannell Capital LLC purchased a new position in MiX Telematics in the fourth quarter valued at about $7,718,000. 45.72% of the stock is owned by institutional investors.
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.
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