Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Trading 4.7% Higher – What’s Next?

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) shares were up 4.7% during mid-day trading on Tuesday . The company traded as high as $15.38 and last traded at $15.35. Approximately 122,251 shares changed hands during trading, a decline of 65% from the average daily volume of 349,880 shares. The stock had previously closed at $14.66.

Analyst Ratings Changes

A number of brokerages have commented on INR. KeyCorp dropped their target price on shares of Market Vectors Indian Rupee/USD ETN from $22.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 12th. Raymond James Financial reiterated a “strong-buy” rating and issued a $23.00 target price (down from $29.00) on shares of Market Vectors Indian Rupee/USD ETN in a report on Monday, September 15th. Citigroup cut their price target on Market Vectors Indian Rupee/USD ETN from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, September 29th. Finally, Roth Capital increased their target price on shares of Market Vectors Indian Rupee/USD ETN from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th.

Market Vectors Indian Rupee/USD ETN Price Performance

The stock has a fifty day moving average of $13.12 and a 200 day moving average of $14.16. The stock has a market cap of $934.48 million and a price-to-earnings ratio of -34.89.

Insider Activity at Market Vectors Indian Rupee/USD ETN

In related news, Director David P. Poole bought 8,646 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were purchased at an average cost of $12.94 per share, with a total value of $111,879.24. Following the completion of the acquisition, the director directly owned 16,146 shares in the company, valued at approximately $208,929.24. The trade was a 115.28% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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. It operates a fleet of 533 aircraft flying to 279 destinations. International Consolidated Airlines Group, SA, was incorporated in 2009 and is based in Madrid, Spain.