MiX Telematics Ltd – (NYSE:MIXT)’s stock price dropped 7.3% during trading on Thursday . The stock traded as low as $13.29 and last traded at $13.87, approximately 572,294 shares traded hands during mid-day trading. An increase of 605% from the average daily volume of 81,179 shares. The stock had previously closed at $14.96.
Several brokerages have issued reports on MIXT. Zacks Investment Research cut MiX Telematics from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. ValuEngine lowered MiX Telematics from a “hold” rating to a “sell” rating in a report on Tuesday, June 4th.
The business’s 50 day simple moving average is $15.38. The stock has a market capitalization of $337.75 million, a PE ratio of 18.80, a P/E/G ratio of 0.72 and a beta of 0.74.
Several large investors have recently made changes to their positions in the company. Nkcfo LLC purchased a new stake in shares of MiX Telematics in the first quarter valued at $33,000. Aperio Group LLC purchased a new stake in shares of MiX Telematics during the second quarter worth $53,000. Advisor Group Inc. raised its holdings in shares of MiX Telematics by 392.9% during the fourth quarter. Advisor Group Inc. now owns 8,892 shares of the technology company’s stock worth $139,000 after acquiring an additional 7,088 shares in the last quarter. Teton Advisors Inc. purchased a new stake in shares of MiX Telematics during the first quarter worth $167,000. Finally, Greenwood Capital Associates LLC purchased a new stake in shares of MiX Telematics during the first quarter worth $188,000. Institutional investors own 39.71% of the company’s stock.
MiX Telematics Company Profile (NYSE:MIXT)
MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model. The company offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; MiX Fleet Manager Essential for monitoring drivers and vehicles; and MiX Asset Manager, a solution for fleet owners and managers to track and monitor vehicles.
Further Reading: Leveraged Buyout (LBO) Explained
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