Artesian Resources Corporation (NASDAQ:ARTNA) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

A number of other research firms have also recently weighed in on ARTNA. Hilliard Lyons cut Artesian Resources Corporation from a “buy” rating to a “neutral” rating and set a $41.00 price target for the company. in a report on Thursday, May 4th. Zacks Investment Research cut Artesian Resources Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th.

Artesian Resources Corporation (NASDAQ ARTNA) traded down 0.78% on Friday, hitting $36.99. The stock had a trading volume of 2,035 shares. The company has a 50 day moving average price of $38.25 and a 200-day moving average price of $35.74. The company has a market cap of $339.86 million, a price-to-earnings ratio of 25.34 and a beta of 0.10. Artesian Resources Corporation has a 52-week low of $26.28 and a 52-week high of $41.90.

COPYRIGHT VIOLATION WARNING: “Artesian Resources Corporation (NASDAQ:ARTNA) Rating Lowered to Sell at BidaskClub” was posted by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/artesian-resources-corporation-nasdaqartna-rating-lowered-to-sell-at-bidaskclub/1472404.html.

In other Artesian Resources Corporation news, Director Nicholle Renee Taylor sold 2,678 shares of the stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $40.10, for a total transaction of $107,387.80. Following the completion of the transaction, the director now owns 7,003 shares of the company’s stock, valued at $280,820.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dian C. Taylor sold 4,702 shares of the stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $40.08, for a total value of $188,456.16. Following the transaction, the insider now directly owns 97,152 shares of the company’s stock, valued at approximately $3,893,852.16. The disclosure for this sale can be found here. Insiders sold a total of 25,905 shares of company stock valued at $1,039,757 in the last ninety days. 20.59% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its position in shares of Artesian Resources Corporation by 79.3% in the first quarter. Bank of America Corp DE now owns 3,823 shares of the utilities provider’s stock worth $124,000 after buying an additional 1,691 shares during the last quarter. American International Group Inc. boosted its position in shares of Artesian Resources Corporation by 7.4% in the first quarter. American International Group Inc. now owns 4,785 shares of the utilities provider’s stock worth $156,000 after buying an additional 329 shares during the last quarter. AT Bancorp purchased a new position in shares of Artesian Resources Corporation during the second quarter worth approximately $188,000. Alliancebernstein L.P. purchased a new position in shares of Artesian Resources Corporation during the second quarter worth approximately $215,000. Finally, Bank of Montreal Can boosted its position in shares of Artesian Resources Corporation by 229.2% in the first quarter. Bank of Montreal Can now owns 6,686 shares of the utilities provider’s stock worth $218,000 after buying an additional 4,655 shares during the last quarter. 40.32% of the stock is owned by institutional investors and hedge funds.

About Artesian Resources Corporation

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

Receive News & Ratings for Artesian Resources Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Artesian Resources Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.