Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Trading Up 4.9% – Here’s What Happened

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)’s share price was up 4.9% during trading on Tuesday . The stock traded as high as $18.12 and last traded at $18.08. Approximately 87,526 shares changed hands during trading, a decline of 74% from the average daily volume of 338,441 shares. The stock had previously closed at $17.23.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on INR shares. KeyCorp started coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set an “overweight” rating and a $26.00 price objective on the stock. Citigroup initiated coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set a “buy” rating and a $27.00 price target on the stock. Stephens initiated coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set an “overweight” rating and a $30.00 price target on the stock. Capital One Financial initiated coverage on Market Vectors Indian Rupee/USD ETN in a research report on Wednesday, February 26th. They set an “overweight” rating on the stock. Finally, Bank of America initiated coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set a “buy” rating and a $30.00 price target on the stock. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $28.43.

Market Vectors Indian Rupee/USD ETN Stock Up 1.7 %

The company has a fifty day moving average of $25.37 and a 200 day moving average of $34.20.

Insider Buying and Selling

In related news, Director Steven D. Gray purchased 15,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was acquired at an average price of $20.00 per share, with a total value of $300,000.00. Following the completion of the acquisition, the director now owns 15,000 shares of the company’s stock, valued at approximately $300,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

About Market Vectors Indian Rupee/USD ETN

International Consolidated Airlines Group, SA, together with its subsidiaries, engages in the provision of passenger and cargo transportation services in the United Kingdom, Spain, Ireland, the United States, and rest of the world. The company operates under the British Airways, Iberia, Vueling, Aer Lingus, and LEVEL brands.