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

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

Separately, Raymond James increased 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 Price Performance

Shares of MiX Telematics stock remained flat at $14.55 during midday trading on Friday. The firm’s 50 day moving average is $13.05 and its two-hundred day moving average is $9.34. MiX Telematics has a one year low of $4.75 and a one year high of $14.85. The stock has a market capitalization of $353.75 million, a P/E ratio of 58.20 and a beta of 1.15.

MiX Telematics (NYSE:MIXT) last issued its quarterly earnings results 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). The firm had revenue of $39.09 million during the quarter, compared to analysts’ expectations of $37.02 million. MiX Telematics had a return on equity of 8.45% and a net margin of 3.72%. As a group, equities research analysts forecast that MiX Telematics will post 0.4 earnings per share for the current year.

Institutional Investors Weigh In On MiX Telematics

A number of large investors have recently added to or reduced their stakes in MIXT. FNY Investment Advisers LLC bought a new position in shares of MiX Telematics in the fourth quarter worth about $43,000. Black Maple Capital Management LP purchased a new stake in MiX Telematics in the 4th quarter worth $369,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new stake in MiX Telematics during the fourth quarter valued at about $1,753,000. Hsbc Holdings PLC purchased a new position in shares of MiX Telematics in the fourth quarter valued at about $1,757,000. Finally, Penn Mutual Asset Management LLC boosted its stake in shares of MiX Telematics by 9.2% in the third 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 during the period. Institutional investors 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.