Artesian Resources Corporation (NASDAQ:ARTNA) Sees Significant Increase in Short Interest

Artesian Resources Corporation (NASDAQ:ARTNA) was the target of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 90,163 shares, a growth of 19.7% from the January 29th total of 75,339 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily volume of 40,602 shares, the short-interest ratio is currently 2.2 days. Based on an average daily volume of 40,602 shares, the short-interest ratio is currently 2.2 days. Approximately 1.1% of the company’s shares are short sold.

Analyst Ratings Changes

Several analysts recently weighed in on ARTNA shares. Weiss Ratings restated a “hold (c-)” rating on shares of Artesian Resources in a report on Wednesday, January 21st. Zacks Research upgraded shares of Artesian Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On Artesian Resources

Large investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in shares of Artesian Resources during the third quarter worth approximately $38,000. Jones Financial Companies Lllp grew its stake in Artesian Resources by 39.7% in the third quarter. Jones Financial Companies Lllp now owns 1,435 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 408 shares in the last quarter. Osaic Holdings Inc. increased its holdings in Artesian Resources by 44.6% during the 2nd quarter. Osaic Holdings Inc. now owns 1,632 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 503 shares during the period. Copeland Capital Management LLC purchased a new position in Artesian Resources during the 4th quarter worth $63,000. Finally, BNP Paribas Financial Markets raised its position in Artesian Resources by 422.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,717 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 3,005 shares in the last quarter. 57.37% of the stock is owned by hedge funds and other institutional investors.

Artesian Resources Price Performance

Shares of ARTNA stock opened at $34.30 on Thursday. The stock has a 50 day moving average price of $33.00 and a 200 day moving average price of $32.64. Artesian Resources has a 52-week low of $30.50 and a 52-week high of $36.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.54 and a current ratio of 0.68. The firm has a market capitalization of $353.63 million, a P/E ratio of 15.66 and a beta of 0.36.

Artesian Resources Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 13th were paid a $0.3136 dividend. This represents a $1.25 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Friday, February 13th. Artesian Resources’s dividend payout ratio (DPR) is currently 57.08%.

About Artesian Resources

Artesian Resources Corporation (NASDAQ: ARTNA) is a publicly traded water and wastewater utility company headquartered in Wilmington, Delaware. The company provides regulated water distribution and wastewater collection services to residential, commercial and industrial customers. Through its operating subsidiaries, Artesian is subject to oversight by public utility commissions in Delaware, Maryland and Pennsylvania, ensuring the delivery of safe, high-quality water in compliance with state and federal standards.

Traced back to its roots as the Artesian Water Company founded in 1905, the organization has expanded its footprint through a combination of organic growth and strategic acquisitions.