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Blinkx Share Price Enjoys Strong Opening to the Week

Blinkx Share Price Enjoys Strong Opening to the Week

After a fairly steady week last week on Monday Blinkx (BLNX) shares made a good start to the week. Having opened at 27.85 the shares rose throughout the day, at one point reaching as high as 29p a share. In the end they closed slightly lower at 28.75p

The shares slid throughout most of last month after revenue growth was slower than expected. However, analysts are not being overly negative about the company. Jefferies International has reiterated its ‘Hold’ position while Numis is still recommending ‘Buy’.

However, investors seem to be far less confident regarding Blinkx at the moment. On Monday 77.79% of Blinkx shares that were traded were sold while only 22.21% were bought. However, City financier Richard Griffiths has recently increased his stake in the company from 4.62% to 5.47% which should add to investor confidence.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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