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

Shares of 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 trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. KeyCorp started coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They issued an “overweight” rating and a $26.00 target price 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 on the stock. Stephens restated an “overweight” rating and set a $30.00 price objective on shares of Market Vectors Indian Rupee/USD ETN in a research report on Friday. Truist Financial began coverage on Market Vectors Indian Rupee/USD ETN in a report on Friday, February 28th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, Citigroup started coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They set a “buy” rating and a $27.00 price target for the company. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $28.43.

Market Vectors Indian Rupee/USD ETN Price Performance

The stock’s fifty day moving average is $22.42 and its 200 day moving average is $33.20.

Insider Activity

In other news, Director Steven D. Gray acquired 15,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $300,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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.