Market Vectors Indian Rupee/USD ETN’s Quiet Period Will End on March 12th (NYSEARCA:INR)

Market Vectors Indian Rupee/USD ETN’s (NYSEARCA:INR) quiet period will expire on Wednesday, March 12th. Market Vectors Indian Rupee/USD ETN had issued 13,250,000 shares in its IPO on January 31st. The total size of the offering was $265,000,000 based on an initial share price of $20.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analysts Set New Price Targets

INR has been the subject of several analyst reports. KeyCorp assumed 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 price objective for the company. Capital One Financial assumed coverage on shares of Market Vectors Indian Rupee/USD ETN in a research note on Wednesday, February 26th. They issued an “overweight” rating for the company. Citigroup initiated coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set a “buy” rating and a $27.00 price target on the stock. Royal Bank of Canada assumed coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, Truist Financial began coverage on shares of Market Vectors Indian Rupee/USD ETN in a research note on Friday, February 28th. They issued a “buy” rating and a $26.00 price objective for the company. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Market Vectors Indian Rupee/USD ETN currently has a consensus rating of “Buy” and an average target price of $28.43.

Market Vectors Indian Rupee/USD ETN Price Performance

NYSEARCA INR opened at $17.21 on Wednesday. The company’s 50 day moving average is $30.30 and its 200-day moving average is $35.94. Market Vectors Indian Rupee/USD ETN has a 12-month low of $17.01 and a 12-month high of $23.00.

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

In related news, Director Steven D. Gray purchased 15,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were purchased 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 approximately $300,000. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

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.