Artesian Resources (NASDAQ:ARTNA) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

ARTNA stock opened at $35.48 on Friday. The firm has a market cap of $339.88 million, a PE ratio of 21.51 and a beta of -0.05. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.41 and a quick ratio of 0.37. Artesian Resources has a 52 week low of $32.00 and a 52 week high of $43.22.

Artesian Resources (NASDAQ:ARTNA) last released its quarterly earnings data on Tuesday, August 7th. The utilities provider reported $0.42 EPS for the quarter. The business had revenue of $20.24 million during the quarter. Artesian Resources had a return on equity of 10.85% and a net margin of 18.42%.

A number of institutional investors have recently made changes to their positions in ARTNA. MetLife Investment Advisors LLC purchased a new stake in Artesian Resources during the 2nd quarter worth $146,000. ELCO Management Co. LLC purchased a new stake in Artesian Resources during the 2nd quarter worth $207,000. BRYN MAWR TRUST Co purchased a new stake in Artesian Resources during the 2nd quarter worth $230,000. First Trust Advisors LP boosted its position in Artesian Resources by 18.5% during the 2nd quarter. First Trust Advisors LP now owns 9,461 shares of the utilities provider’s stock worth $367,000 after purchasing an additional 1,477 shares during the period. Finally, California Public Employees Retirement System boosted its position in Artesian Resources by 9.8% during the 2nd quarter. California Public Employees Retirement System now owns 18,000 shares of the utilities provider’s stock worth $698,000 after purchasing an additional 1,600 shares during the period. 38.02% of the stock is 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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