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

Analysts at StockNews.com initiated coverage on shares of MiX Telematics (NYSE:MIXT) in a research report issued to clients and investors on Thursday. The firm 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

Shares of NYSE MIXT 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 stock has a market cap of $353.75 million, a P/E ratio of 58.20 and a beta of 1.15. The firm has a 50 day moving average price of $11.97 and a 200 day moving average price of $8.70.

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

Institutional Investors Weigh In On MiX Telematics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC bought a new position in MiX Telematics during the 4th quarter worth about $43,000. Bank of America Corp DE raised its position in MiX Telematics by 105.8% in the 1st quarter. Bank of America Corp DE now owns 6,175 shares of the technology company’s stock valued at $48,000 after buying an additional 3,175 shares during the last quarter. Commonwealth Equity Services LLC bought a new stake in MiX Telematics in the 1st quarter valued at approximately $79,000. State Street Corp acquired a new position in MiX Telematics during the 3rd quarter worth approximately $117,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of MiX Telematics during the 1st quarter worth approximately $175,000. 45.72% of the stock is currently owned by institutional investors and hedge funds.

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.