Artesian Resources (NASDAQ:ARTNA) Stock Passes Above 200-Day Moving Average - What's Next?

Shares of Artesian Resources Corporation (NASDAQ:ARTNA - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.95 and traded as high as $33.50. Artesian Resources shares last traded at $32.81, with a volume of 19,859 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Artesian Resources from a "hold" rating to a "buy" rating in a research report on Monday, May 5th.

Artesian Resources Stock Down 0.0%

The stock's 50 day simple moving average is $33.62 and its two-hundred day simple moving average is $32.95. The firm has a market cap of $338.27 million, a P/E ratio of 15.77 and a beta of 0.34. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.98 and a quick ratio of 0.77.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.05. The company had revenue of $28.55 million during the quarter, compared to analyst estimates of $29.00 million. Artesian Resources had a return on equity of 8.98% and a net margin of 19.60%. As a group, research analysts forecast that Artesian Resources Corporation will post 1.92 earnings per share for the current year.

Hedge Funds Weigh In On Artesian Resources

Several large investors have recently modified their holdings of ARTNA. T. Rowe Price Investment Management Inc. grew its position in Artesian Resources by 4.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 927,232 shares of the utilities provider's stock valued at $30,275,000 after purchasing an additional 41,357 shares during the last quarter. Trexquant Investment LP grew its holdings in shares of Artesian Resources by 83.5% during the fourth quarter. Trexquant Investment LP now owns 50,164 shares of the utilities provider's stock valued at $1,586,000 after buying an additional 22,821 shares during the last quarter. Jane Street Group LLC increased its position in shares of Artesian Resources by 129.0% during the first quarter. Jane Street Group LLC now owns 37,508 shares of the utilities provider's stock valued at $1,225,000 after acquiring an additional 21,127 shares in the last quarter. Citadel Advisors LLC raised its holdings in Artesian Resources by 56.1% in the 4th quarter. Citadel Advisors LLC now owns 53,305 shares of the utilities provider's stock worth $1,686,000 after acquiring an additional 19,152 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Artesian Resources by 7.4% in the 4th quarter. Renaissance Technologies LLC now owns 276,937 shares of the utilities provider's stock worth $8,757,000 after acquiring an additional 19,126 shares during the last quarter. Hedge funds and other institutional investors own 57.37% of the company's stock.

Artesian Resources Company Profile

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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