Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Hits New 12-Month Low – What’s Next?

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $11.70 and last traded at $11.74, with a volume of 453999 shares trading hands. The stock had previously closed at $12.00.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on INR shares. Citigroup dropped their target price on shares of Market Vectors Indian Rupee/USD ETN from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, September 29th. Raymond James Financial reiterated a “strong-buy” rating and set a $23.00 target price (down from $29.00) on shares of Market Vectors Indian Rupee/USD ETN in a research report on Monday, September 15th. Royal Bank Of Canada dropped their target price on shares of Market Vectors Indian Rupee/USD ETN from $29.00 to $26.00 and set an “outperform” rating for the company in a research report on Tuesday, July 8th. Roth Capital started coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, October 14th. They set a “buy” rating and a $17.00 target price for the company. Finally, KeyCorp dropped their target price on shares of Market Vectors Indian Rupee/USD ETN from $24.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, September 3rd.

Market Vectors Indian Rupee/USD ETN Trading Down 2.2%

The stock’s fifty day moving average is $13.57 and its 200 day moving average is $15.36.

Insiders Place Their Bets

In related news, Director Steven D. Gray acquired 20,252 shares of Market Vectors Indian Rupee/USD ETN stock in a transaction on Thursday, August 21st. The shares were acquired at an average cost of $13.75 per share, with a total value of $278,465.00. Following the transaction, the director owned 33,154 shares in the company, valued at $455,867.50. This trade represents a 156.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Zack David Arnold acquired 5,500 shares of Market Vectors Indian Rupee/USD ETN stock in a transaction on Friday, August 22nd. The shares were bought at an average cost of $13.88 per share, for a total transaction of $76,340.00. Following the completion of the transaction, the insider owned 5,500 shares in the company, valued at approximately $76,340. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 55,500 shares of company stock worth $765,958.

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.