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

Research analysts at StockNews.com started coverage on shares of MiX Telematics (NYSE:MIXT) in a research note issued to investors on Saturday. The firm set a “buy” rating on the technology company’s stock.

Separately, Raymond James boosted their price objective on shares of 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 Price Performance

MIXT 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. MiX Telematics has a 12 month low of $4.75 and a 12 month high of $14.85. The business has a 50-day moving average of $13.05 and a two-hundred day moving average of $9.36.

MiX Telematics (NYSE:MIXT) last released its earnings results on Thursday, February 1st. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The company had revenue of $39.09 million during the quarter, compared to analysts’ expectations of $37.02 million. MiX Telematics had a net margin of 3.72% and a return on equity of 8.45%. Equities research analysts anticipate that MiX Telematics will post 0.4 earnings per share for the current year.

Institutional Trading of MiX Telematics

Institutional investors and hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC acquired a new position in shares of MiX Telematics during the fourth quarter worth about $43,000. Kopion Asset Management LLC lifted its position 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 acquiring an additional 53,963 shares in the last quarter. Penn Mutual Asset Management LLC lifted its position in 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 worth $2,954,000 after acquiring an additional 45,000 shares in the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV purchased a new position in MiX Telematics in the 4th quarter worth approximately $1,753,000. Finally, Black Maple Capital Management LP acquired a new stake in MiX Telematics in the fourth quarter valued at approximately $369,000. Institutional investors and hedge funds 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.