MiX Telematics (NYSE:MIXT) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of MiX Telematics (NYSE:MIXT) in a research report issued to clients and investors on Thursday. The brokerage set a “buy” rating on the technology company’s stock.

Separately, Raymond James upped their price objective 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

NYSE MIXT opened at $14.55 on Thursday. The firm’s fifty day moving average price is $11.97 and its two-hundred day moving average price is $8.70. The stock has a market cap of $353.75 million, a PE ratio of 58.20 and a beta of 1.15. MiX Telematics has a fifty-two week low of $4.75 and a fifty-two week high of $14.85.

MiX Telematics (NYSE:MIXT) last released its quarterly earnings data 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). MiX Telematics had a net margin of 3.72% and a return on equity of 8.45%. The firm had revenue of $39.09 million for the quarter, compared to analyst estimates of $37.02 million. As a group, sell-side analysts predict that MiX Telematics will post 0.4 earnings per share for the current fiscal year.

Institutional Trading of MiX Telematics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in shares of MiX Telematics by 7.9% in the 1st quarter. Royal Bank of Canada now owns 17,248 shares of the technology company’s stock valued at $193,000 after buying an additional 1,263 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in MiX Telematics by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 107,768 shares of the technology company’s stock valued at $1,210,000 after acquiring an additional 1,881 shares during the last quarter. State Street Corp increased its position in MiX Telematics by 13.1% during the 2nd quarter. State Street Corp now owns 18,857 shares of the technology company’s stock valued at $119,000 after purchasing an additional 2,184 shares during the period. Bank of America Corp DE raised its holdings in MiX Telematics by 105.8% during the 1st quarter. Bank of America Corp DE now owns 6,175 shares of the technology company’s stock worth $48,000 after purchasing an additional 3,175 shares during the last quarter. Finally, Meros Investment Management LP raised its holdings in MiX Telematics by 1.0% during the 4th 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 during the last quarter. 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.