Artesian Resources (ARTNA) Raised to “Hold” at BidaskClub
BidaskClub upgraded shares of Artesian Resources (NASDAQ:ARTNA) from a sell rating to a hold rating in a research report report published on Saturday.
Artesian Resources stock traded down $0.24 during midday trading on Friday, reaching $36.20. 14,815 shares of the stock were exchanged, compared to its average volume of 20,049. The company has a current ratio of 0.41, a quick ratio of 0.37 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $334.52 million, a PE ratio of 21.17 and a beta of -0.05. Artesian Resources has a 52 week low of $32.00 and a 52 week high of $43.16.
Artesian Resources (NASDAQ:ARTNA) last posted its earnings results on Tuesday, August 7th. The utilities provider reported $0.42 earnings per share for the quarter. The business had revenue of $20.24 million for the quarter. Artesian Resources had a net margin of 18.42% and a return on equity of 10.85%.
Large investors have recently modified their holdings of the company. MetLife Investment Advisors LLC bought a new position in shares of Artesian Resources in the 2nd quarter worth $146,000. ELCO Management Co. LLC bought a new position in shares of Artesian Resources in the 2nd quarter worth $207,000. BRYN MAWR TRUST Co bought a new position in shares of Artesian Resources in the 2nd quarter worth $230,000. First Trust Advisors LP increased its holdings in shares of Artesian Resources by 18.5% in the 2nd quarter. First Trust Advisors LP now owns 9,461 shares of the utilities provider’s stock worth $367,000 after buying an additional 1,477 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Artesian Resources by 9.8% in the 2nd quarter. California Public Employees Retirement System now owns 18,000 shares of the utilities provider’s stock worth $698,000 after buying an additional 1,600 shares during the last quarter. 37.99% of the stock is currently owned by hedge funds and other institutional investors.
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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