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

Equities research analysts at StockNews.com initiated coverage on shares of MiX Telematics (NYSE:MIXT - Get Free Report) in a note issued to investors on Wednesday. The firm set a "buy" rating on the technology company's stock.

Separately, Raymond James raised 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 Stock Performance

NYSE:MIXT remained flat at $14.55 during trading hours on Wednesday. The firm has a market cap of $353.75 million, a PE ratio of 58.20 and a beta of 1.15. The stock's fifty day simple moving average is $11.26 and its 200 day simple moving average is $8.28. MiX Telematics has a 1-year low of $4.75 and a 1-year high of $14.85.

MiX Telematics (NYSE:MIXT - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The technology company reported $0.11 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 analyst estimates of $37.02 million. MiX Telematics had a return on equity of 8.45% and a net margin of 3.72%. Analysts expect that MiX Telematics will post 0.4 EPS for the current fiscal year.

Institutional Trading of MiX Telematics

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