BidaskClub Upgrades Artesian Resources (ARTNA) to “Hold”

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Artesian Resources (NASDAQ:ARTNA) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, ValuEngine upgraded Artesian Resources from a “hold” rating to a “buy” rating in a research note on Tuesday, November 6th.

NASDAQ:ARTNA opened at $39.82 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.49 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $361.11 million, a PE ratio of 22.84 and a beta of 0.04. Artesian Resources has a one year low of $32.00 and a one year high of $40.97.

Hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co. NY increased its stake in Artesian Resources by 380.0% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 2,885 shares of the utilities provider’s stock worth $101,000 after buying an additional 2,284 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Artesian Resources in the 3rd quarter worth $164,000. Cutler Group LP increased its stake in Artesian Resources by 307.9% in the 3rd quarter. Cutler Group LP now owns 5,209 shares of the utilities provider’s stock worth $191,000 after buying an additional 3,932 shares in the last quarter. Whittier Trust Co. purchased a new stake in Artesian Resources in the 4th quarter worth $192,000. Finally, MetLife Investment Advisors LLC increased its stake in Artesian Resources by 60.6% in the 3rd quarter. MetLife Investment Advisors LLC now owns 6,050 shares of the utilities provider’s stock worth $223,000 after buying an additional 2,284 shares in the last quarter. Institutional investors and hedge funds own 41.58% of the company’s stock.

Artesian Resources Company Profile

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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