Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Given New $18.00 Price Target at Citigroup

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) had its price objective reduced by Citigroup from $21.00 to $18.00 in a research note published on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities analysts have also recently issued reports on the company. Siebert Williams Shank started coverage on Market Vectors Indian Rupee/USD ETN in a research note on Friday, June 13th. They issued a “buy” rating and a $23.00 price objective for the company. KeyCorp cut their target price on Market Vectors Indian Rupee/USD ETN from $24.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 3rd. Royal Bank Of Canada cut their target price on Market Vectors Indian Rupee/USD ETN from $29.00 to $26.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $23.00 target price (down previously from $29.00) on shares of Market Vectors Indian Rupee/USD ETN in a research report on Monday, September 15th.

Market Vectors Indian Rupee/USD ETN Trading Up 1.0%

Shares of INR opened at $13.24 on Monday. The stock has a 50-day simple moving average of $14.03 and a 200-day simple moving average of $15.85. Market Vectors Indian Rupee/USD ETN has a 1 year low of $12.55 and a 1 year high of $23.00.

Insider Buying and Selling

In other Market Vectors Indian Rupee/USD ETN news, Director Steven D. Gray purchased 16,846 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were purchased at an average cost of $13.96 per share, for a total transaction of $235,170.16. Following the completion of the purchase, the director directly owned 50,000 shares in the company, valued at $698,000. This represents a 50.81% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Zack David Arnold purchased 5,500 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average price of $13.88 per share, for a total transaction of $76,340.00. Following the completion of the purchase, the insider owned 5,500 shares of the company’s stock, valued at approximately $76,340. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 55,500 shares of company stock worth $765,958.

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.