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

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on INR. Capital One Financial began coverage on Market Vectors Indian Rupee/USD ETN in a research report on Wednesday, February 26th. They issued an “overweight” rating on the stock. Stephens began coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They issued an “overweight” rating and a $30.00 price target on the stock. Raymond James began coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They issued a “strong-buy” rating and a $30.00 price target on the stock. Royal Bank of Canada began 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 on the stock. Finally, Truist Financial began coverage on Market Vectors Indian Rupee/USD ETN in a research report on Friday, February 28th. They issued a “buy” rating and a $26.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $28.43.

Market Vectors Indian Rupee/USD ETN Price Performance

The stock has a 50-day simple moving average of $26.23 and a 200-day simple moving average of $34.50.

Insider Buying and Selling at Market Vectors Indian Rupee/USD ETN

In other news, Director Steven D. Gray purchased 15,000 shares of Market Vectors Indian Rupee/USD ETN stock in a transaction dated Monday, February 3rd. The shares were bought 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 in the company, valued at approximately $300,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, 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.