Artesian Resources (NASDAQ:ARTNA – Get Free Report) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.
Separately, TheStreet cut shares of Artesian Resources from a “b-” rating to a “c+” rating in a research report on Monday, February 5th.
Read Our Latest Research Report on Artesian Resources
Artesian Resources Trading Up 1.5 %
Artesian Resources (NASDAQ:ARTNA – Get Free Report) last announced its earnings results on Wednesday, March 13th. The utilities provider reported $0.34 earnings per share for the quarter. The company had revenue of $24.55 million during the quarter. Artesian Resources had a net margin of 16.89% and a return on equity of 7.62%. On average, analysts predict that Artesian Resources will post 1.99 EPS for the current year.
Hedge Funds Weigh In On Artesian Resources
Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its position in shares of Artesian Resources by 454.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,010 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 828 shares during the last quarter. West Tower Group LLC purchased a new position in Artesian Resources in the 4th quarter valued at $49,000. Quantbot Technologies LP grew its position in Artesian Resources by 153.5% in the 3rd quarter. Quantbot Technologies LP now owns 1,478 shares of the utilities provider’s stock valued at $62,000 after buying an additional 895 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Artesian Resources by 64.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,012 shares of the utilities provider’s stock valued at $84,000 after buying an additional 787 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in Artesian Resources in the 4th quarter valued at $93,000. 57.37% 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 in Delaware, Maryland, and Pennsylvania. 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 collection, treatment infrastructure, and wastewater services to customers in Delaware.
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