Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Hits New 52-Week Low After Analyst Downgrade

Shares of Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) reached a new 52-week low during mid-day trading on Friday after Citigroup lowered their price target on the stock from $27.00 to $23.00. Citigroup currently has a buy rating on the stock. Market Vectors Indian Rupee/USD ETN traded as low as $14.36 and last traded at $14.61, with a volume of 201317 shares trading hands. The stock had previously closed at $17.30.

Several other equities research analysts have also commented on INR. KeyCorp started coverage on shares of Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They issued an “overweight” rating and a $26.00 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 issued an “overweight” rating on the stock. Bank of America started 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 for the company. Truist Financial initiated coverage on Market Vectors Indian Rupee/USD ETN in a report on Friday, February 28th. They set a “buy” rating and a $26.00 price target on the stock. Finally, Raymond James initiated coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They issued a “strong-buy” rating and a $30.00 price objective for the company. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Market Vectors Indian Rupee/USD ETN currently has an average rating of “Buy” and a consensus price target of $27.86.

Insider Activity

In other Market Vectors Indian Rupee/USD ETN news, Director Steven D. Gray bought 15,000 shares of Market Vectors Indian Rupee/USD ETN stock in a transaction that occurred on Monday, February 3rd. The stock was purchased at an average cost of $20.00 per share, for a total transaction 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 represents a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Market Vectors Indian Rupee/USD ETN Price Performance

The stock has a 50-day moving average of $20.77 and a two-hundred day moving average of $32.62.

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.