Trade Report: The Artesian Resources Corp. (ARTNA) Lifted to Hold at Zacks Investment Research

The Artesian Resources Corp. (ARTNA) Lifted to Hold at Zacks Investment Research

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

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. “

Artesian Resources Corp. (NASDAQ:ARTNA) opened at 27.47 on Monday. The firm’s 50-day moving average is $27.97 and its 200 day moving average is $29.54. The stock has a market capitalization of $250.17 million, a P/E ratio of 21.80 and a beta of 0.12. Artesian Resources Corp. has a 12-month low of $23.80 and a 12-month high of $35.00.

A number of hedge funds have recently added to or reduced their stakes in ARTNA. IFP Advisors Inc increased its position in shares of Artesian Resources Corp. by 7.0% in the first quarter. IFP Advisors Inc now owns 5,350 shares of the company’s stock valued at $150,000 after buying an additional 350 shares during the period. Ipswich Investment Management Co. Inc. increased its position in shares of Artesian Resources Corp. by 2.1% in the second quarter. Ipswich Investment Management Co. Inc. now owns 19,685 shares of the company’s stock valued at $668,000 after buying an additional 400 shares during the period. Strs Ohio increased its position in shares of Artesian Resources Corp. by 8.1% in the second quarter. Strs Ohio now owns 6,700 shares of the company’s stock valued at $227,000 after buying an additional 500 shares during the period. Royal Bank of Canada increased its position in shares of Artesian Resources Corp. by 12.3% in the first quarter. Royal Bank of Canada now owns 4,641 shares of the company’s stock valued at $130,000 after buying an additional 510 shares during the period. Finally, Parametric Portfolio Associates LLC increased its position in shares of Artesian Resources Corp. by 3.0% in the second quarter. Parametric Portfolio Associates LLC now owns 41,314 shares of the company’s stock valued at $1,401,000 after buying an additional 1,191 shares during the period. Hedge funds and other institutional investors own 38.48% of the company’s stock.

About Artesian Resources Corp.

Artesian Resources Corporation is a holding company. The Company, through its subsidiaries, offers water, wastewater and other services on the Delmarva Peninsula. It distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in Delaware, Maryland and Pennsylvania.

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