StockNews.com Upgrades Artesian Resources (NASDAQ:ARTNA) to Hold

Artesian Resources (NASDAQ:ARTNA) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Separately, TheStreet downgraded Artesian Resources from a “b-” rating to a “c+” rating in a research note on Monday, February 5th.

Artesian Resources Stock Up 1.5 %

Shares of ARTNA stock opened at $34.87 on Thursday. The stock’s 50 day simple moving average is $35.56 and its 200 day simple moving average is $38.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.10 and a current ratio of 1.37. Artesian Resources has a twelve month low of $33.42 and a twelve month high of $57.69. The company has a market capitalization of $358.74 million, a price-to-earnings ratio of 21.01 and a beta of 0.18.

Artesian Resources (NASDAQ:ARTNA) last issued its quarterly earnings data on Wednesday, March 13th. The utilities provider reported $0.34 earnings per share for the quarter. Artesian Resources had a return on equity of 7.62% and a net margin of 16.89%. The business had revenue of $24.55 million for the quarter. As a group, research analysts predict that Artesian Resources will post 1.99 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its position in Artesian Resources by 454.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,010 shares of the utilities provider’s stock worth $42,000 after buying an additional 828 shares during the period. West Tower Group LLC bought a new position in Artesian Resources in the 4th quarter worth approximately $49,000. Quantbot Technologies LP increased its position in Artesian Resources by 153.5% in the 3rd quarter. Quantbot Technologies LP now owns 1,478 shares of the utilities provider’s stock worth $62,000 after buying an additional 895 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Artesian Resources by 64.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,012 shares of the utilities provider’s stock worth $84,000 after buying an additional 787 shares during the period. Finally, Jones Financial Companies Lllp bought a new position in Artesian Resources in the 4th quarter worth approximately $93,000. 57.37% of the stock is owned by institutional investors.

About Artesian Resources

Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection in the states of Delaware, Maryland, and Pennsylvania; and offers wastewater collection, treatment infrastructure, and wastewater services to customers in Delaware.