Artesian Resources (NASDAQ:ARTNA) Shares Break Above 200-Day Moving Average – Should You Sell?

Artesian Resources Corporation (NASDAQ:ARTNA) passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $33.43 and traded as high as $34.45. Artesian Resources shares last traded at $34.39, with a volume of 45,976 shares changing hands.

Analyst Ratings Changes

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

Artesian Resources Stock Up 3.3%

The firm has a market capitalization of $355.15 million, a PE ratio of 15.02 and a beta of 0.32. The company has a current ratio of 1.01, a quick ratio of 0.89 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average of $34.23 and a two-hundred day moving average of $33.43.

Artesian Resources (NASDAQ:ARTNA) last released its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. Artesian Resources had a return on equity of 9.37% and a net margin of 20.18%. The business had revenue of $30.66 million for the quarter, compared to analyst estimates of $29.80 million.

Institutional Trading of Artesian Resources

Several large investors have recently bought and sold shares of the company. Ancora Advisors LLC acquired a new stake in shares of Artesian Resources during the second quarter worth approximately $136,000. Sei Investments Co. acquired a new stake in Artesian Resources during the first quarter valued at approximately $213,000. R Squared Ltd acquired a new position in shares of Artesian Resources in the 3rd quarter worth approximately $283,000. Cullen Capital Management LLC bought a new stake in shares of Artesian Resources in the 2nd quarter valued at approximately $394,000. Finally, Gabelli Funds LLC lifted its stake in Artesian Resources by 23.4% during the first quarter. Gabelli Funds LLC now owns 29,000 shares of the utilities provider’s stock worth $924,000 after purchasing an additional 5,500 shares during the last quarter. Institutional investors and hedge funds own 57.37% of the company’s stock.

Artesian Resources Company Profile

Artesian Resources Corporation (NASDAQ: ARTNA) 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, municipal and governmental customers.

Artesian’s principal operating subsidiary, Artesian Water Company, serves customers in Delaware. Related subsidiaries provide regulated water service in Maryland and Pennsylvania, while other operations support wastewater services, water treatment and contract operations.