Artesian Resources (NASDAQ:ARTNA) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Artesian Resources Corporation (NASDAQ:ARTNA) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $33.52 and traded as high as $33.90. Artesian Resources shares last traded at $33.83, with a volume of 18,252 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Artesian Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, September 3rd. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Artesian Resources currently has an average rating of “Hold”.

Artesian Resources Stock Performance

The stock has a market capitalization of $346.78 million, a PE ratio of 14.66 and a beta of 0.34. The stock has a fifty day moving average of $34.81 and a 200-day moving average of $33.54. The company has a quick ratio of 0.89, a current ratio of 1.01 and a debt-to-equity ratio of 0.71.

Artesian Resources (NASDAQ:ARTNA) last released its earnings results on Friday, August 7th. The utilities provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. The firm had revenue of $30.66 million during the quarter, compared to analysts’ expectations of $29.80 million. Artesian Resources had a return on equity of 9.37% and a net margin of 20.18%.

Artesian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 17th were given a dividend of $0.3199 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.8%. Artesian Resources’s payout ratio is currently 55.90%.

Institutional Trading of Artesian Resources

A number of large investors have recently made changes to their positions in ARTNA. Ancora Advisors LLC purchased a new position in Artesian Resources in the second quarter worth approximately $136,000. Sei Investments Co. purchased a new stake in shares of Artesian Resources in the 1st quarter valued at approximately $213,000. Cullen Capital Management LLC purchased a new stake in shares of Artesian Resources in the 2nd quarter valued at approximately $394,000. Gabelli Funds LLC increased its position in shares of Artesian Resources by 23.4% in the 1st quarter. Gabelli Funds LLC now owns 29,000 shares of the utilities provider’s stock valued at $924,000 after purchasing an additional 5,500 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Artesian Resources by 372.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 45,310 shares of the utilities provider’s stock valued at $1,443,000 after purchasing an additional 35,718 shares in the last quarter. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Artesian Resources Company Profile

Artesian Resources Corporation is a regulated water utility holding company headquartered in Newark, Delaware. Through its subsidiaries, the company provides water and wastewater services to residential, commercial, industrial and governmental customers in Delaware, Maryland and Pennsylvania.

Artesian’s principal business is the operation and maintenance of water supply and distribution systems, including the treatment and delivery of potable water. Its subsidiaries also provide wastewater collection and treatment, contract operations, water service management, engineering and other related services.

Founded in 1905, Artesian has expanded from its original Delaware operations to serve communities across the Delmarva Peninsula.