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

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)’s stock price reached a new 52-week low on Friday after Raymond James lowered their price target on the stock from $30.00 to $29.00. Raymond James currently has a strong-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.

Other research analysts also recently issued reports about the company. Royal Bank of Canada initiated coverage on Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They set an “outperform” rating and a $30.00 price target on the stock. Truist Financial began coverage on shares of 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. Bank of America started coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They set a “buy” rating and a $30.00 price objective for the company. Citigroup cut their target price on shares of Market Vectors Indian Rupee/USD ETN from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Friday. Finally, Capital One Financial started coverage on Market Vectors Indian Rupee/USD ETN in a 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $27.71.

Insider Transactions at Market Vectors Indian Rupee/USD ETN

In other news, Director Steven D. Gray purchased 15,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at $300,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Market Vectors Indian Rupee/USD ETN Stock Down 14.8 %

The stock has a fifty day moving average of $20.28 and a 200 day moving average of $32.45.

Market Vectors Indian Rupee/USD ETN Company Profile

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.