Market Vectors Indian Rupee/USD ETN’s (NYSEARCA:INR) Quiet Period Set To Expire on March 12th

Market Vectors Indian Rupee/USD ETN’s (NYSEARCA:INR) quiet period will expire on Wednesday, March 12th. Market Vectors Indian Rupee/USD ETN had issued 13,250,000 shares in its initial public offering on January 31st. The total size of the offering was $265,000,000 based on an initial share price of $20.00. During Market Vectors Indian Rupee/USD ETN’s quiet period, insiders and underwriters involved in the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

INR has been the topic of a number of analyst reports. 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. Royal Bank of Canada initiated coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set an “outperform” 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. KeyCorp initiated 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 target on the stock. Finally, Bank of America assumed 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 given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $28.43.

Market Vectors Indian Rupee/USD ETN Stock Performance

NYSEARCA INR opened at $15.65 on Friday. The business has a fifty day moving average price of $28.91 and a two-hundred day moving average price of $35.47. Market Vectors Indian Rupee/USD ETN has a fifty-two week low of $14.83 and a fifty-two week high of $23.00.

Insiders Place Their Bets

In other news, Director Steven D. Gray purchased 15,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was bought at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now owns 15,000 shares of the company’s stock, valued at approximately $300,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Market Vectors Indian Rupee/USD ETN Company Profile

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.