Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) Shares Gap Down – Should You Sell?

Market Vectors Indian Rupee/USD ETN (NYSEARCA:INR) shares gapped down before the market opened on Tuesday . The stock had previously closed at $18.83, but opened at $18.15. Market Vectors Indian Rupee/USD ETN shares last traded at $18.15, with a volume of 365 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently commented on INR. KeyCorp lowered their price objective on shares of Market Vectors Indian Rupee/USD ETN from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Bank of America began 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 for the company. Siebert Williams Shank initiated coverage on shares of Market Vectors Indian Rupee/USD ETN in a research note on Friday. They issued a “buy” rating and a $23.00 target price on the stock. Capital One Financial started coverage on shares of Market Vectors Indian Rupee/USD ETN in a report on Wednesday, February 26th. They set an “overweight” rating on the stock. Finally, Royal Bank of Canada started coverage on shares of Market Vectors Indian Rupee/USD ETN in a research report on Tuesday, February 25th. They set an “outperform” rating and a $30.00 target price for the company. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $26.88.

Market Vectors Indian Rupee/USD ETN Stock Performance

The company has a 50-day simple moving average of $16.75 and a 200-day simple moving average of $24.17.

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.