Bank of America Begins Coverage on Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)

Analysts at Bank of America initiated coverage on shares of Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $30.00 price target on the stock. Bank of America‘s target price would indicate a potential upside of 56.82% from the company’s current price.

Market Vectors Indian Rupee/USD ETN Price Performance

INR opened at $19.13 on Tuesday. Market Vectors Indian Rupee/USD ETN has a 12 month low of $18.47 and a 12 month high of $23.00. The stock has a fifty day moving average price of $32.81 and a 200-day moving average price of $36.82.

Insiders Place Their Bets

In other Market Vectors Indian Rupee/USD ETN news, Director Steven D. Gray acquired 15,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was purchased at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the acquisition, the director now owns 15,000 shares in the company, valued at approximately $300,000. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.