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

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 downgraded Artesian Resources Corporation from a “hold” rating to a “sell” rating in a report on Friday, August 11th.

Shares of Artesian Resources Corporation (NASDAQ ARTNA) traded up $1.12 during mid-day trading on Thursday, reaching $39.57. 16,935 shares of the company’s stock were exchanged, compared to its average volume of 22,910. Artesian Resources Corporation has a twelve month low of $29.36 and a twelve month high of $43.22. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The company has a market cap of $362.72, a P/E ratio of 27.67 and a beta of 0.09.

Artesian Resources Corporation (NASDAQ:ARTNA) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). Artesian Resources Corporation had a net margin of 15.96% and a return on equity of 9.18%. The company had revenue of $22.36 million for the quarter. research analysts predict that Artesian Resources Corporation will post 1.46 earnings per share for the current fiscal year.

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In other news, Director Kenneth R. Biederman sold 2,000 shares of Artesian Resources Corporation stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $39.05, for a total value of $78,100.00. Following the completion of the transaction, the director now owns 21,875 shares in the company, valued at approximately $854,218.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 20.59% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Artesian Resources Corporation by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 369,434 shares of the utilities provider’s stock valued at $13,906,000 after purchasing an additional 3,541 shares during the period. Renaissance Technologies LLC boosted its position in Artesian Resources Corporation by 6.6% during the 1st quarter. Renaissance Technologies LLC now owns 282,700 shares of the utilities provider’s stock valued at $9,205,000 after purchasing an additional 17,400 shares during the period. Dimensional Fund Advisors LP boosted its position in Artesian Resources Corporation by 9.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 237,999 shares of the utilities provider’s stock valued at $8,997,000 after purchasing an additional 20,661 shares during the period. State Street Corp boosted its position in Artesian Resources Corporation by 5.0% during the 2nd quarter. State Street Corp now owns 181,189 shares of the utilities provider’s stock valued at $6,819,000 after purchasing an additional 8,679 shares during the period. Finally, WFG Advisors LP boosted its position in Artesian Resources Corporation by 9.4% during the 2nd quarter. WFG Advisors LP now owns 144,011 shares of the utilities provider’s stock valued at $5,421,000 after purchasing an additional 12,399 shares during the period. Institutional investors and hedge funds own 39.95% of the company’s stock.

About Artesian Resources Corporation

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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