Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Shares Gap Down – Should You Sell?

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)’s share price gapped down prior to trading on Friday . The stock had previously closed at $18.11, but opened at $17.21. Market Vectors Indian Rupee/USD ETN shares last traded at $17.51, with a volume of 64,133 shares trading hands.

Analyst Upgrades and Downgrades

INR has been the topic of a number of recent analyst reports. Raymond James initiated coverage on Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set a “strong-buy” rating and a $30.00 price target on the stock. Stephens reiterated an “overweight” rating and set a $30.00 target price on shares of Market Vectors Indian Rupee/USD ETN in a research report on Friday. Citigroup 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 $27.00 price target for the company. Truist Financial began coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Friday, February 28th. They issued a “buy” rating and a $26.00 target price on the stock. Finally, Capital One Financial initiated coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Wednesday, February 26th. They set an “overweight” rating for the company. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Market Vectors Indian Rupee/USD ETN currently has an average rating of “Buy” and an average target price of $28.43.

Market Vectors Indian Rupee/USD ETN Price Performance

The company’s 50 day moving average price is $22.84 and its two-hundred day moving average price is $33.35.

Insider Buying and Selling at Market Vectors Indian Rupee/USD ETN

In related news, Director Steven D. Gray bought 15,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was bought at an average cost of $20.00 per share, for a total transaction of $300,000.00. Following the acquisition, the director now directly owns 15,000 shares in the company, valued at $300,000. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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.