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

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 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 any underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analysts Set New Price Targets

INR has been the subject of several research reports. Royal Bank of Canada assumed coverage on shares of Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They set an “outperform” rating and a $30.00 price objective for the company. KeyCorp assumed coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set an “overweight” rating and a $26.00 price target for the company. Bank of America assumed coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set a “buy” rating and a $30.00 price target for the company. Citigroup assumed coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set a “buy” rating and a $27.00 price target for the company. Finally, Capital One Financial assumed 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 research analysts have rated the stock with a buy rating and one has assigned 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 Stock Performance

Shares of NYSEARCA:INR opened at $15.65 on Friday. The firm’s 50 day moving average is $28.91 and its two-hundred day moving average is $35.47. Market Vectors Indian Rupee/USD ETN has a 52 week low of $14.83 and a 52 week high of $23.00.

Insider Activity

In other news, Director Steven D. Gray purchased 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was purchased at an average cost of $20.00 per share, with a total value of $300,000.00. Following the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $300,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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.