Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Shares Gap Down – Should You Sell?

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) gapped down before the market opened on Friday . The stock had previously closed at $18.11, but opened at $17.21. Market Vectors Indian Rupee/USD ETN shares last traded at $17.51, with a volume of 64,133 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Stephens reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Market Vectors Indian Rupee/USD ETN in a research report on Friday. Citigroup assumed 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 on the stock. Royal Bank of Canada assumed coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They issued an “outperform” rating and a $30.00 price target for the company. Capital One Financial began coverage on Market Vectors Indian Rupee/USD ETN in a research report on Wednesday, February 26th. They set an “overweight” rating on the stock. Finally, KeyCorp began coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They issued an “overweight” rating and a $26.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $28.43.

Market Vectors Indian Rupee/USD ETN Price Performance

The firm has a 50-day moving average of $22.84 and a 200-day moving average of $33.35.

Insider Transactions 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 company’s stock in a transaction dated Monday, February 3rd. The shares were acquired at an average cost of $20.00 per share, with a total value of $300,000.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $300,000. The trade was a ∞ increase in their ownership of the stock. The purchase 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.