Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Hits New 1-Year Low After Analyst Downgrade

Shares of Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) 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 traded. The stock had previously closed at $17.30.

Other analysts have also issued reports about the company. KeyCorp started 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. Stephens restated an “overweight” rating and issued a $30.00 price objective on shares of Market Vectors Indian Rupee/USD ETN in a research note on Friday, March 28th. Bank of America assumed 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 on the stock. Truist Financial started 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 target price for the company. Finally, Royal Bank of Canada assumed coverage on shares of Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They set an “outperform” rating and a $30.00 price target on the stock. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $27.71.

Insider Activity

In other Market Vectors Indian Rupee/USD ETN news, Director Steven D. Gray purchased 15,000 shares of the stock in a transaction on Monday, February 3rd. The stock was acquired at an average cost of $20.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $300,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Market Vectors Indian Rupee/USD ETN Price Performance

The business’s fifty day simple moving average is $20.28 and its 200-day simple moving average is $32.50.

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.