Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Trading 2.8% Higher – Still a Buy?

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) shot up 2.8% during mid-day trading on Monday . The company traded as high as $18.57 and last traded at $18.48. 230,422 shares changed hands during trading, a decline of 44% from the average session volume of 408,381 shares. The stock had previously closed at $17.98.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on INR shares. KeyCorp assumed coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They issued an “overweight” rating and a $26.00 price objective for the company. Bank of America began coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They issued a “buy” rating and a $30.00 price target for the company. Raymond James started coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set a “strong-buy” rating and a $30.00 price target on the stock. Royal Bank of Canada assumed coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, Citigroup started coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They set a “buy” rating and a $27.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Market Vectors Indian Rupee/USD ETN currently has a consensus rating of “Buy” and a consensus target price of $28.43.

Market Vectors Indian Rupee/USD ETN Stock Up 1.0 %

The business has a fifty day simple moving average of $21.61 and a two-hundred day simple moving average of $32.88.

Insider Activity

In related news, Director Steven D. Gray bought 15,000 shares of the company’s stock in a transaction on 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 acquisition, the director now directly owns 15,000 shares in the company, valued at $300,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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.