Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Coverage Initiated at Bank of America

Research analysts at Bank of America assumed coverage on shares of Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) in a research report issued on Tuesday,Benzinga reports. The firm set a “buy” rating and a $30.00 price target on the stock. Bank of America‘s price objective suggests a potential upside of 56.82% from the stock’s current price.

Market Vectors Indian Rupee/USD ETN Stock Performance

Market Vectors Indian Rupee/USD ETN stock opened at $19.13 on Tuesday. Market Vectors Indian Rupee/USD ETN has a 12-month low of $18.47 and a 12-month high of $23.00. The firm has a 50-day moving average price of $32.81 and a 200-day moving average price of $36.82.

Insiders Place Their Bets

In related news, Director Steven D. Gray purchased 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, with a total value of $300,000.00. Following the completion of the purchase, the director now owns 15,000 shares of the company’s stock, valued at approximately $300,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

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.