Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Shares Up 5.6% – Time to Buy?

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR)’s share price shot up 5.6% during trading on Wednesday . The company traded as high as $14.92 and last traded at $14.73. 221,326 shares were traded during trading, an increase of 10% from the average session volume of 200,964 shares. The stock had previously closed at $13.95.

Analysts Set New Price Targets

Several analysts recently weighed in on INR shares. Citigroup reduced their target price 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 report on Monday, September 29th. Roth Mkm increased their price objective on shares of Market Vectors Indian Rupee/USD ETN from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Finally, KeyCorp reduced their price objective on shares of Market Vectors Indian Rupee/USD ETN from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th.

Market Vectors Indian Rupee/USD ETN Price Performance

The company has a market cap of $896.73 million and a price-to-earnings ratio of -33.48. The firm’s 50 day simple moving average is $13.95 and its 200-day simple moving average is $13.71.

Insider Buying and Selling at Market Vectors Indian Rupee/USD ETN

In other news, Director David P. Poole bought 8,646 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was purchased at an average cost of $12.94 per share, with a total value of $111,879.24. Following the transaction, the director directly owned 16,146 shares in the company, valued at $208,929.24. This trade represents a 115.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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. It operates a fleet of 533 aircraft flying to 279 destinations. International Consolidated Airlines Group, SA, was incorporated in 2009 and is based in Madrid, Spain.