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

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

Analyst Ratings Changes

INR has been the topic of a number of recent analyst reports. Bank of America initiated coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They issued a “buy” rating and a $30.00 price objective on the stock. KeyCorp began coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They set an “overweight” rating and a $26.00 price objective for the company. Citigroup started 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 for the company. Stephens started coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They set an “overweight” rating and a $30.00 price objective for the company. Finally, Royal Bank of Canada began coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set an “outperform” rating and a $30.00 price target on the stock. Seven 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 currently has a consensus rating of “Buy” and an average target price of $28.43.

Market Vectors Indian Rupee/USD ETN Stock Performance

Market Vectors Indian Rupee/USD ETN stock opened at $15.29 on Friday. The company has a 50-day simple moving average of $29.38 and a 200-day simple moving average of $35.64. Market Vectors Indian Rupee/USD ETN has a one year low of $15.05 and a one year high of $23.00.

Insider Transactions at Market Vectors Indian Rupee/USD ETN

In related news, Director Steven D. Gray acquired 15,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was acquired 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 directly owns 15,000 shares of the company’s stock, valued at approximately $300,000. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through 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.