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

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

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

MiX Telematics Stock Performance

MIXT stock opened at $14.55 on Friday. The stock’s fifty day simple moving average is $12.28 and its two-hundred day simple moving average is $8.91. MiX Telematics has a 1-year low of $4.75 and a 1-year high of $14.85. The stock has a market cap of $353.75 million, a P/E ratio of 58.20 and a beta of 1.15.

MiX Telematics (NYSE:MIXT) last posted its quarterly earnings data on Thursday, February 1st. The technology company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). MiX Telematics had a return on equity of 8.45% and a net margin of 3.72%. The business had revenue of $39.09 million during the quarter, compared to analysts’ expectations of $37.02 million. As a group, analysts forecast that MiX Telematics will post 0.4 earnings per share for the current fiscal year.

Institutional Trading of MiX Telematics

A number of hedge funds and other institutional investors have recently made changes to their positions in MIXT. Penn Mutual Asset Management LLC raised its stake in shares of MiX Telematics by 9.2% during 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 purchasing an additional 45,000 shares during the period. Kopion Asset Management LLC raised its stake in shares of 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 valued at $8,828,000 after purchasing an additional 53,963 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of MiX Telematics during the 4th quarter valued at $43,000. Hsbc Holdings PLC bought a new stake in shares of MiX Telematics during the 4th quarter valued at $1,757,000. Finally, Harber Asset Management LLC raised its stake in shares of MiX Telematics by 6.6% during the 4th quarter. Harber Asset Management LLC now owns 703,202 shares of the technology company’s stock valued at $6,055,000 after purchasing an additional 43,436 shares during the 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.