Artesian Resources Corporation (NASDAQ:ARTNA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

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. “

Separately, BidaskClub cut shares of Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research note on Friday, August 11th.

Shares of Artesian Resources Corporation (ARTNA) traded up 1.30% during midday trading on Tuesday, hitting $40.37. The stock had a trading volume of 13,130 shares. The firm has a 50-day moving average price of $37.78 and a 200-day moving average price of $37.46. Artesian Resources Corporation has a 1-year low of $26.92 and a 1-year high of $41.90. The firm has a market cap of $370.92 million, a price-to-earnings ratio of 27.65 and a beta of 0.09.

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Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Artesian Resources Corporation by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 369,434 shares of the utilities provider’s stock worth $13,906,000 after acquiring an additional 3,541 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Artesian Resources Corporation by 6.6% during the 1st quarter. Renaissance Technologies LLC now owns 282,700 shares of the utilities provider’s stock worth $9,205,000 after acquiring an additional 17,400 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Artesian Resources Corporation by 8.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 217,338 shares of the utilities provider’s stock worth $8,181,000 after acquiring an additional 17,048 shares in the last quarter. State Street Corp boosted its position in shares of Artesian Resources Corporation by 5.0% during the 2nd quarter. State Street Corp now owns 181,189 shares of the utilities provider’s stock worth $6,819,000 after acquiring an additional 8,679 shares in the last quarter. Finally, WFG Advisors LP boosted its position in shares of Artesian Resources Corporation by 9.4% during the 2nd quarter. WFG Advisors LP now owns 144,011 shares of the utilities provider’s stock worth $5,421,000 after acquiring an additional 12,399 shares in the last quarter. 39.87% of the stock is owned by institutional investors.

Artesian Resources Corporation Company Profile

Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.

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