Zacks Investment Research upgraded shares of Artesian Resources Corporation (NASDAQ:ARTNA) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

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 Artesian Resources Corporation from a hold rating to a sell rating in a research note on Wednesday, July 12th.

Artesian Resources Corporation (NASDAQ ARTNA) opened at 40.37 on Tuesday. The firm has a market capitalization of $370.92 million, a P/E ratio of 27.65 and a beta of 0.09. Artesian Resources Corporation has a one year low of $26.92 and a one year high of $41.90. The firm’s 50-day moving average price is $37.78 and its 200 day moving average price is $37.46.

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Several large investors have recently made changes to their positions in ARTNA. Wells Fargo & Company MN grew its stake in shares of Artesian Resources Corporation by 5.1% during the first quarter. Wells Fargo & Company MN now owns 29,935 shares of the utilities provider’s stock valued at $975,000 after buying an additional 1,463 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Artesian Resources Corporation by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 100,194 shares of the utilities provider’s stock valued at $3,262,000 after buying an additional 5,337 shares during the last quarter. American International Group Inc. grew its stake in shares of Artesian Resources Corporation by 7.4% during the first quarter. American International Group Inc. now owns 4,785 shares of the utilities provider’s stock valued at $156,000 after buying an additional 329 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Artesian Resources Corporation during the first quarter worth about $242,000. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Artesian Resources Corporation 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 purchasing an additional 1,511 shares during the period. 39.87% of the stock is currently owned by hedge funds and other institutional investors.

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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