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 stock price reached a new 52-week low on Wednesday . The company traded as low as $11.70 and last traded at $11.74, with a volume of 453999 shares traded. The stock had previously closed at $12.00.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada reduced their target price on shares of 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. KeyCorp dropped their price target on shares of Market Vectors Indian Rupee/USD ETN from $24.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 3rd. Citigroup dropped their price target on shares of 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. Raymond James Financial reiterated a “strong-buy” rating and issued a $23.00 price target (down previously from $29.00) on shares of Market Vectors Indian Rupee/USD ETN in a research note on Monday, September 15th. Finally, Roth Capital began coverage on shares of Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, October 14th. They issued a “buy” rating and a $17.00 price target on the stock.

Market Vectors Indian Rupee/USD ETN Stock Down 2.2%

The company’s 50 day moving average price is $13.57 and its two-hundred day moving average price is $15.36.

Insider Activity at Market Vectors Indian Rupee/USD ETN

In other Market Vectors Indian Rupee/USD ETN news, Director Steven D. Gray acquired 20,252 shares of the stock in a transaction dated Thursday, August 21st. The shares were purchased at an average price of $13.75 per share, for a total transaction of $278,465.00. Following the purchase, the director directly owned 33,154 shares of the company’s stock, valued at approximately $455,867.50. This trade represents a 156.97% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Zack David Arnold bought 5,500 shares of Market Vectors Indian Rupee/USD ETN stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $13.88 per share, with a total value of $76,340.00. Following the completion of the acquisition, the insider directly owned 5,500 shares in the company, valued at $76,340. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 55,500 shares of company stock worth $765,958 in the last quarter.

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.