Artesian Resources (NASDAQ:ARTNA) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Separately, Zacks Investment Research cut Artesian Resources from a “hold” rating to a “sell” rating in a research note on Thursday, November 16th.

Artesian Resources (NASDAQ ARTNA) traded down $0.65 during trading on Thursday, reaching $38.45. The company’s stock had a trading volume of 12,419 shares, compared to its average volume of 18,644. 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 stock has a market capitalization of $359.41, a P/E ratio of 27.73 and a beta of 0.09. Artesian Resources has a one year low of $29.36 and a one year high of $43.22.

Artesian Resources (NASDAQ:ARTNA) last posted its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). Artesian Resources had a net margin of 15.96% and a return on equity of 9.18%. The firm had revenue of $22.36 million for the quarter. research analysts anticipate that Artesian Resources will post 1.42 earnings per share for the current fiscal year.

In other news, insider Dian C. Taylor sold 8,798 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $42.36, for a total value of $372,683.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth R. Biederman sold 2,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $39.05, for a total value of $78,100.00. Following the completion of the sale, the director now owns 21,875 shares of the company’s stock, valued at approximately $854,218.75. The disclosure for this sale can be found here. Insiders have sold a total of 17,548 shares of company stock valued at $734,283 in the last quarter. Insiders own 20.59% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ARTNA. TIAA CREF Investment Management LLC increased its position in Artesian Resources by 6.4% during the first quarter. TIAA CREF Investment Management LLC now owns 25,289 shares of the utilities provider’s stock worth $823,000 after buying an additional 1,511 shares during the last quarter. Vanguard Group Inc. increased its position in Artesian Resources by 0.7% during the first quarter. Vanguard Group Inc. now owns 365,893 shares of the utilities provider’s stock worth $11,914,000 after buying an additional 2,417 shares during the last quarter. Geode Capital Management LLC increased its position in Artesian Resources by 2.6% during the first quarter. Geode Capital Management LLC now owns 110,162 shares of the utilities provider’s stock worth $3,586,000 after buying an additional 2,784 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Artesian Resources by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 200,290 shares of the utilities provider’s stock valued at $6,521,000 after acquiring an additional 8,120 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Artesian Resources by 79.3% during the first quarter. Bank of America Corp DE now owns 3,823 shares of the utilities provider’s stock valued at $124,000 after acquiring an additional 1,691 shares during the period. 40.34% of the stock is currently owned by hedge funds and other institutional investors.

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Artesian Resources 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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