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

Posted by on Jun 7th, 2023

Stock analysts at StockNews.com assumed coverage on shares of MiX Telematics (NYSE:MIXT – Get Rating) in a report released on Wednesday. The brokerage set a “buy” rating on the technology company’s stock.

MiX Telematics Trading Up 4.6 %

NYSE:MIXT opened at $7.23 on Wednesday. MiX Telematics has a 1-year low of $6.75 and a 1-year high of $10.48. The business’s 50-day moving average price is $7.63 and its two-hundred day moving average price is $7.76. The firm has a market capitalization of $175.93 million, a price-to-earnings ratio of 34.41 and a beta of 0.98.

Insider Buying and Selling at MiX Telematics

In other MiX Telematics news, insider Robin A. Frew sold 260,000 shares of the stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $0.32, for a total value of $83,200.00. Following the completion of the sale, the insider now directly owns 17,671,680 shares in the company, valued at $5,654,937.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other MiX Telematics news, insider Robin A. Frew sold 260,000 shares of the stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $0.32, for a total value of $83,200.00. Following the completion of the sale, the insider now directly owns 17,671,680 shares in the company, valued at $5,654,937.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robin A. Frew sold 492,225 shares of the stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $0.31, for a total value of $152,589.75. Following the completion of the sale, the insider now owns 16,631,680 shares of the company’s stock, valued at $5,155,820.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,392,675 shares of company stock valued at $741,709. 27.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MiX Telematics

Several large investors have recently modified their holdings of MIXT. Royal Bank of Canada grew its holdings in shares of MiX Telematics by 7.9% during the first quarter. Royal Bank of Canada now owns 17,248 shares of the technology company’s stock worth $193,000 after buying an additional 1,263 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MiX Telematics by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 107,768 shares of the technology company’s stock worth $1,210,000 after buying an additional 1,881 shares in the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of MiX Telematics by 2.0% during the first quarter. Pinnacle Associates Ltd. now owns 121,856 shares of the technology company’s stock worth $944,000 after buying an additional 2,400 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of MiX Telematics by 105.8% during the first quarter. Bank of America Corp DE now owns 6,175 shares of the technology company’s stock worth $48,000 after buying an additional 3,175 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of MiX Telematics by 26.7% during the first quarter. Invesco Ltd. now owns 21,129 shares of the technology company’s stock worth $237,000 after buying an additional 4,450 shares in the last quarter. 34.20% of the stock is currently owned by institutional investors.

About MiX Telematics

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MiX Telematics Ltd. engages in the provision of fleet and mobile asset management solutions. It focuses on the following industries: fast moving consumer goods, utilities, security, construction, transport and distribution, emergency services, government, rental and leasing, mining, oil and gas, and public transport.

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