Zacks Investment Research Upgrades Artesian Resources Corp. (ARTNA) to “Hold”
Artesian Resources Corp. (NASDAQ:ARTNA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Artesian Resources Corporation operates as the parent holding company of Artesian Water Company, Inc a regulated public water utility. Artesian Water provides water utility service to customers with in its established service territory in portions of New Castle County, Delaware. “
Shares of Artesian Resources Corp. (NASDAQ:ARTNA) traded up 3.85% on Monday, hitting $27.81. The company had a trading volume of 20,000 shares. The company has a market cap of $253.27 million, a price-to-earnings ratio of 22.07 and a beta of 0.12. Artesian Resources Corp. has a 12-month low of $23.80 and a 12-month high of $35.00. The company has a 50 day moving average of $28.13 and a 200-day moving average of $29.57.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARTNA. Royal Bank of Canada raised its position in Artesian Resources Corp. by 12.3% in the first quarter. Royal Bank of Canada now owns 4,641 shares of the company’s stock worth $130,000 after buying an additional 510 shares in the last quarter. IFP Advisors Inc raised its position in shares of Artesian Resources Corp. by 7.0% in the first quarter. IFP Advisors Inc now owns 5,350 shares of the company’s stock worth $150,000 after buying an additional 350 shares in the last quarter. Strs Ohio raised its position in shares of Artesian Resources Corp. by 8.1% in the second quarter. Strs Ohio now owns 6,700 shares of the company’s stock worth $227,000 after buying an additional 500 shares in the last quarter. AXA raised its position in shares of Artesian Resources Corp. by 239.4% in the second quarter. AXA now owns 6,788 shares of the company’s stock worth $230,000 after buying an additional 4,788 shares in the last quarter. Finally, Cutler Group LP raised its position in shares of Artesian Resources Corp. by 253.0% in the second quarter. Cutler Group LP now owns 9,883 shares of the company’s stock worth $335,000 after buying an additional 7,083 shares in the last quarter. 38.48% of the stock is owned by hedge funds and other institutional investors.
Artesian Resources Corp. Company Profile
Artesian Resources Corporation is a holding company. The Company, through its subsidiaries, offers water, wastewater and other services on the Delmarva Peninsula. It distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in Delaware, Maryland and Pennsylvania.
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