Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Shares Gap Up – Here’s What Happened

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) shares gapped up before the market opened on Wednesday . The stock had previously closed at $17.17, but opened at $17.73. Market Vectors Indian Rupee/USD ETN shares last traded at $17.62, with a volume of 10,031 shares.

Wall Street Analyst Weigh In

INR has been the topic of a number of recent research reports. Stephens reiterated an “overweight” rating and set a $30.00 price target on shares of Market Vectors Indian Rupee/USD ETN in a research note on Friday, March 28th. Capital One Financial initiated coverage on shares of Market Vectors Indian Rupee/USD ETN in a research note on Wednesday, February 26th. They set an “overweight” rating on the stock. Raymond James decreased their price target on shares of Market Vectors Indian Rupee/USD ETN from $30.00 to $29.00 and set a “strong-buy” rating on the stock in a research note on Friday, April 4th. Bank of America started coverage on shares of Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They issued a “buy” rating and a $30.00 target price on the stock. Finally, Citigroup lowered their target price on shares of Market Vectors Indian Rupee/USD ETN from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $27.43.

Market Vectors Indian Rupee/USD ETN Price Performance

The stock’s 50 day simple moving average is $16.61 and its two-hundred day simple moving average is $24.66.

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.