Market Vectors Indian Rupee/USD ETN’s Quiet Period Will End on March 12th (NYSEARCA:INR)

Market Vectors Indian Rupee/USD ETN’s (NYSEARCA:INR) quiet period is set to end on Wednesday, March 12th. Market Vectors Indian Rupee/USD ETN had issued 13,250,000 shares in its 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 the company’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports 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.

Wall Street Analysts Forecast Growth

INR has been the topic of several research analyst reports. Royal Bank of Canada initiated coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They issued an “outperform” rating and a $30.00 price objective on the stock. Stephens assumed coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They issued an “overweight” rating and a $30.00 price target on the stock. Bank of America assumed coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They issued a “buy” rating and a $30.00 target price on the stock. KeyCorp assumed coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They issued an “overweight” rating and a $26.00 target price on the stock. Finally, Raymond James assumed coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They issued a “strong-buy” rating and a $30.00 target price on the stock. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $28.43.

Market Vectors Indian Rupee/USD ETN Stock Down 1.1 %

INR stock opened at $17.21 on Wednesday. Market Vectors Indian Rupee/USD ETN has a 52 week low of $17.01 and a 52 week high of $23.00. The firm’s fifty day moving average is $30.30 and its 200 day moving average is $35.94.

Insider Activity

In other news, Director Steven D. Gray purchased 15,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $300,000. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.