Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Now Covered by Bank of America

Research analysts at Bank of America began coverage on shares of Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) in a report issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $30.00 price target on the stock. Bank of America‘s price target would indicate a potential upside of 60.00% from the company’s previous close.

Market Vectors Indian Rupee/USD ETN Price Performance

INR opened at $18.75 on Tuesday. The company’s 50 day moving average is $32.00 and its 200 day moving average is $36.54. Market Vectors Indian Rupee/USD ETN has a 12-month low of $18.09 and a 12-month high of $23.00.

Insiders Place Their Bets

In other news, Director Steven D. Gray bought 15,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were bought at an average price of $20.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now owns 15,000 shares in the company, valued at approximately $300,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.