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

Stock analysts at StockNews.com assumed coverage on shares of MiX Telematics (NYSE:MIXT) in a note issued to investors on Thursday. The firm set 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 stock 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. The firm has a market cap of $353.75 million, a P/E ratio of 58.20 and a beta of 1.15. MiX Telematics has a 1-year low of $4.75 and a 1-year high of $14.85. The business’s 50 day moving average is $11.77 and its 200-day moving average is $8.60.

MiX Telematics (NYSE:MIXT) last announced its 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). The firm had revenue of $39.09 million for the quarter, compared to the consensus estimate of $37.02 million. MiX Telematics had a return on equity of 8.45% and a net margin of 3.72%. Analysts forecast that MiX Telematics will post 0.4 EPS for the current year.

Hedge Funds Weigh In On MiX Telematics

A number of hedge funds have recently added to or reduced their stakes in the stock. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new position in MiX Telematics during the 4th quarter worth $1,753,000. Meros Investment Management LP increased its stake in shares of MiX Telematics by 1.0% in the 4th quarter. Meros Investment Management LP now owns 452,894 shares of the technology company’s stock valued at $3,899,000 after purchasing an additional 4,349 shares during the last quarter. Prelude Capital Management LLC bought a new position in shares of MiX Telematics in the 4th quarter valued at $1,426,000. Black Maple Capital Management LP bought a new position in shares of MiX Telematics in the 4th quarter valued at $369,000. Finally, Cannell Capital LLC bought a new position in shares of MiX Telematics in the 4th quarter valued at $7,718,000. 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.