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

Wall Street Analyst Weigh In

INR has been the subject of several recent analyst reports. 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 objective for the company. Citigroup began coverage on Market Vectors Indian Rupee/USD ETN in a research note on Tuesday, February 25th. They issued a “buy” rating and a $27.00 price objective for the company. Bank of America began coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Tuesday, February 25th. They set a “buy” rating and a $30.00 price target on the stock. Capital One Financial began coverage on Market Vectors Indian Rupee/USD ETN in a research note on Wednesday, February 26th. They issued an “overweight” rating on the stock. Finally, Truist Financial initiated coverage on Market Vectors Indian Rupee/USD ETN in a research note on Friday, February 28th. They issued a “buy” rating and a $26.00 target price on the stock. Seven investment 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, the stock currently has an average rating of “Buy” and an average target price of $28.43.

Market Vectors Indian Rupee/USD ETN Price Performance

NYSEARCA INR opened at $16.22 on Tuesday. Market Vectors Indian Rupee/USD ETN has a twelve month low of $14.83 and a twelve month high of $23.00. The stock has a 50-day simple moving average of $28.46 and a 200 day simple moving average of $35.29.

Insider Buying and Selling

In other news, Director Steven D. Gray purchased 15,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was purchased at an average price of $20.00 per share, with a total value of $300,000.00. Following the acquisition, the director now directly owns 15,000 shares in the company, valued at approximately $300,000. The trade was a ∞ increase in their position. The purchase 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.