Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Trading Up 4.9% – Should You Buy?

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)’s share price was up 4.9% during mid-day trading on Tuesday . The stock traded as high as $18.12 and last traded at $18.08. Approximately 87,526 shares were traded during trading, a decline of 74% from the average daily volume of 338,441 shares. The stock had previously closed at $17.23.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on INR shares. 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 target price for the company. Truist Financial started coverage on Market Vectors Indian Rupee/USD ETN in a research report on Friday, February 28th. They set a “buy” rating and a $26.00 target price for the company. 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 target price for the company. Royal Bank of Canada started 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 target price for the company. Finally, Citigroup started 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 target price for the company. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Market Vectors Indian Rupee/USD ETN currently has an average rating of “Buy” and an average price target of $28.43.

Market Vectors Indian Rupee/USD ETN Stock Performance

The business has a 50 day moving average price of $26.23 and a 200-day moving average price of $34.50.

Insider Transactions at Market Vectors Indian Rupee/USD ETN

In other Market Vectors Indian Rupee/USD ETN news, Director Steven D. Gray purchased 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were acquired at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, 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 acquisition was disclosed in a document filed with the SEC, which is accessible 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.