Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Shares Gap Up – Here’s What Happened

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)’s share price gapped up prior to trading on Monday . The stock had previously closed at $15.65, but opened at $15.97. Market Vectors Indian Rupee/USD ETN shares last traded at $15.97, with a volume of 36,008 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have weighed in on INR. Royal Bank of Canada initiated 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 target price for the company. Truist Financial started coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Friday, February 28th. They issued a “buy” rating and a $26.00 price target for the company. Raymond James assumed coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They issued a “strong-buy” rating and a $30.00 price objective on the stock. Stephens initiated coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They set an “overweight” rating and a $30.00 price target for the company. Finally, Capital One Financial started coverage on Market Vectors Indian Rupee/USD ETN in a research report on Wednesday, February 26th. They set an “overweight” rating on the stock. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $28.43.

Market Vectors Indian Rupee/USD ETN Stock Down 0.3 %

The firm has a 50 day simple moving average of $28.91 and a two-hundred day simple moving average of $35.45.

Insider Buying and Selling at Market Vectors Indian Rupee/USD ETN

In related news, Director Steven D. Gray purchased 15,000 shares of Market Vectors Indian Rupee/USD ETN 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 transaction, the director now owns 15,000 shares in the company, valued at approximately $300,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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.