MiX Telematics (NYSE:MIXT) Receives New Coverage from Analysts at StockNews.com

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

Separately, Raymond James boosted their price target on shares of MiX Telematics from $8.00 to $12.00 and gave the stock an outperform rating in a research report on Wednesday, March 13th.

MiX Telematics Stock Performance

MiX Telematics stock opened at $14.55 on Monday. The stock has a market capitalization of $353.75 million, a P/E ratio of 58.20 and a beta of 1.15. The company’s fifty day moving average price is $14.39 and its 200 day moving average price is $10.22. MiX Telematics has a 1 year low of $4.75 and a 1 year high of $14.85.

Institutional Investors Weigh In On MiX Telematics

Several institutional investors and hedge funds have recently modified their holdings of MIXT. Cannell Capital LLC acquired a new position in MiX Telematics in the 4th quarter valued at about $7,718,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV purchased a new position in shares of MiX Telematics in the fourth quarter valued at approximately $1,753,000. Hsbc Holdings PLC acquired a new position in shares of MiX Telematics in the fourth quarter valued at approximately $1,757,000. Kopion Asset Management LLC lifted its holdings in MiX Telematics by 5.6% during 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 in the last quarter. Finally, Penn Mutual Asset Management LLC boosted its position 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 buying an additional 45,000 shares during the period. Hedge funds and other institutional investors own 45.72% of the company’s stock.

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.