Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Shares Gap Down – What’s Next?

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)’s share price gapped down before the market opened on Monday . The stock had previously closed at $17.98, but opened at $17.59. Market Vectors Indian Rupee/USD ETN shares last traded at $17.81, with a volume of 35,407 shares changing hands.

Analysts Set New Price Targets

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

Market Vectors Indian Rupee/USD ETN Stock Performance

The firm has a 50 day moving average of $31.16 and a 200-day moving average of $36.24.

Insider Activity at Market Vectors Indian Rupee/USD ETN

In other Market Vectors Indian Rupee/USD ETN news, Director Steven D. Gray acquired 15,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was purchased at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at approximately $300,000. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.