Shares of Artesian Resources Co. (NASDAQ:ARTNA) have received an average broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.
Zacks has also given Artesian Resources an industry rank of 179 out of 265 based on the ratings given to related companies.
A number of equities analysts recently commented on the stock. BidaskClub cut shares of Artesian Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 18th. Zacks Investment Research raised shares of Artesian Resources from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, March 15th.
Shares of ARTNA stock traded down $1.32 during trading hours on Wednesday, reaching $35.16. 9,156 shares of the stock were exchanged, compared to its average volume of 22,522. Artesian Resources has a 12-month low of $32.00 and a 12-month high of $43.22. The company has a current ratio of 0.67, a quick ratio of 0.61 and a debt-to-equity ratio of 0.72. The stock has a market cap of $336.42, a PE ratio of 15.62 and a beta of 0.10.
In other Artesian Resources news, Director Kenneth R. Biederman sold 6,750 shares of the business’s stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $36.78, for a total value of $248,265.00. Following the completion of the sale, the director now directly owns 26,625 shares of the company’s stock, valued at approximately $979,267.50. The transaction was disclosed in a filing with the SEC, which is available through this link. 20.59% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in shares of Artesian Resources 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. The Manufacturers Life Insurance Company raised its stake in shares of Artesian Resources by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,415 shares of the utilities provider’s stock worth $279,000 after acquiring an additional 235 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Artesian Resources during the 3rd quarter worth approximately $538,000. JPMorgan Chase & Co. raised its stake in shares of Artesian Resources by 40.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 23,338 shares of the utilities provider’s stock worth $903,000 after acquiring an additional 6,707 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Artesian Resources by 9.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 237,999 shares of the utilities provider’s stock worth $8,997,000 after acquiring an additional 20,661 shares in the last quarter. 38.83% of the stock is owned by hedge funds and other institutional investors.
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About Artesian Resources
Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services on the Delmarva Peninsula. 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 services to customers in Delaware.
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