Is Buying MiX Telematics Limited (MIXT) Here a Winning Strategy?
March 13, 2018 – By Richard Conner
The stock of MiX Telematics Limited (NYSE:MIXT) hit a new 52-week high and has $16.31 target or 8.00 % above today’s $15.10 share price. The 8 months bullish chart indicates low risk for the $328.13M company. The 1-year high was reported on Mar, 13 by Barchart.com. If the $16.31 price target is reached, the company will be worth $26.25 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.
The stock increased 0.53% or $0.08 during the last trading session, reaching $15.1. About 154,726 shares traded or 84.61% up from the average. MiX Telematics Limited (NYSE:MIXT) has risen 32.51% since March 13, 2017 and is uptrending. It has outperformed by 15.81% the S&P500.
Analysts await MiX Telematics Limited (NYSE:MIXT) to report earnings on May, 24. They expect $0.11 earnings per share, up 10.00 % or $0.01 from last year’s $0.1 per share. MIXT’s profit will be $2.39 million for 34.32 P/E if the $0.11 EPS becomes a reality. After $0.14 actual earnings per share reported by MiX Telematics Limited for the previous quarter, Wall Street now forecasts -21.43 % negative EPS growth.
MiX Telematics Limited (NYSE:MIXT) Ratings Coverage
Among 5 analysts covering MiX Telematics Ltd (NYSE:MIXT), 3 have Buy rating, 0 Sell and 2 Hold. Therefore 60% are positive. MiX Telematics Ltd had 10 analyst reports since August 12, 2015 according to SRatingsIntel. The firm has “Overweight” rating given on Friday, May 27 by First Analysis. The rating was downgraded by Oppenheimer on Thursday, January 12 to “Perform”. The firm earned “Buy” rating on Wednesday, August 12 by Canaccord Genuity. The rating was maintained by Canaccord Genuity on Thursday, February 1 with “Buy”. On Wednesday, December 6 the stock rating was maintained by Canaccord Genuity with “Buy”. The rating was maintained by Canaccord Genuity on Thursday, August 3 with “Buy”. As per Thursday, May 25, the company rating was maintained by William Blair. ValuEngine downgraded the shares of MIXT in report on Monday, May 29 to “Hold” rating.
More recent MiX Telematics Limited (NYSE:MIXT) news were published by: Investorplace.com which released: “4 Breakout Stocks for Incredible Returns” on January 27, 2017. Also Investorplace.com published the news titled: “3 Top Tech Stocks to Buy Under $10 (MIXT, EMKR, UCTT)” on January 06, 2017. Marketwatch.com‘s news article titled: “MiX Telematics Ltd. ADR” with publication date: September 24, 2016 was also an interesting one.
MiX Telematics Limited provides fleet and mobile asset management solutions through software-as-a-service delivery model worldwide. The company has market cap of $328.13 million. The firm offers fleet solutions, including MiX Fleet Manager Premium that provides access to secure information about drivers and vehicles; and MiX Fleet Manager Essential for monitoring drivers and vehicles. It has a 28.76 P/E ratio. It also provides consumer solutions, including Matrix that provides vehicle tracking, telematics, and personal safety services; and Beame, a wireless device, which offers mobile asset tracking and recovery services.
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