Market Vectors Indian Rupee/USD ETN’s (NYSEARCA:INR) Quiet Period Set To Expire Tomorrow

Market Vectors Indian Rupee/USD ETN’s (NYSEARCA:INR) quiet period is set to expire on Wednesday, March 12th. Market Vectors Indian Rupee/USD ETN had issued 13,250,000 shares in its initial public offering on January 31st. The total size of the offering was $265,000,000 based on an initial share price of $20.00. During Market Vectors Indian Rupee/USD ETN’s quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on INR shares. Capital One Financial started coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Wednesday, February 26th. They set an “overweight” rating on the stock. KeyCorp initiated coverage on Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They issued an “overweight” rating and a $26.00 target price for the company. Royal Bank of Canada assumed coverage on Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They issued an “outperform” rating and a $30.00 target price for the company. Stephens assumed coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They set an “overweight” rating and a $30.00 price target for the company. Finally, Bank of America assumed coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They set a “buy” rating and a $30.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $28.43.

Market Vectors Indian Rupee/USD ETN Price Performance

Shares of INR stock opened at $16.22 on Tuesday. The firm has a fifty day moving average of $28.46 and a two-hundred day moving average of $35.29. Market Vectors Indian Rupee/USD ETN has a 1-year low of $14.83 and a 1-year high of $23.00.

Insider Activity

In other Market Vectors Indian Rupee/USD ETN news, Director Steven D. Gray acquired 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were purchased at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at $300,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, 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.