Artesian Resources Corporation (NASDAQ:ARTNA) Short Interest Up 19.7% in February

Artesian Resources Corporation (NASDAQ:ARTNA) was the target of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 107,897 shares, an increase of 19.7% from the February 12th total of 90,163 shares. Based on an average trading volume of 27,902 shares, the short-interest ratio is currently 3.9 days. Approximately 1.3% of the company’s shares are short sold. Approximately 1.3% of the company’s shares are short sold. Based on an average trading volume of 27,902 shares, the short-interest ratio is currently 3.9 days.

Artesian Resources Trading Down 0.9%

Shares of Artesian Resources stock opened at $31.65 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 0.70. The company has a market cap of $326.31 million, a price-to-earnings ratio of 14.26 and a beta of 0.36. The company’s fifty day simple moving average is $33.20 and its 200-day simple moving average is $32.60. Artesian Resources has a 1 year low of $30.50 and a 1 year high of $36.19.

Artesian Resources (NASDAQ:ARTNA) last announced its quarterly earnings data on Thursday, March 12th. The utilities provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Artesian Resources had a net margin of 20.76% and a return on equity of 9.57%. The business had revenue of $28.02 million during the quarter, compared to analyst estimates of $28.00 million. As a group, sell-side analysts expect that Artesian Resources will post 1.92 EPS for the current year.

Artesian Resources Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 13th were issued a dividend of $0.3136 per share. This represents a $1.25 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, February 13th. Artesian Resources’s dividend payout ratio (DPR) is presently 56.31%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Quadrature Capital Ltd lifted its position in Artesian Resources by 7.0% in the fourth quarter. Quadrature Capital Ltd now owns 10,326 shares of the utilities provider’s stock worth $326,000 after purchasing an additional 679 shares during the period. Millennium Management LLC raised its stake in shares of Artesian Resources by 4.7% in the 4th quarter. Millennium Management LLC now owns 41,743 shares of the utilities provider’s stock valued at $1,319,000 after buying an additional 1,891 shares in the last quarter. Trexquant Investment LP raised its stake in shares of Artesian Resources by 56.5% in the 4th quarter. Trexquant Investment LP now owns 35,579 shares of the utilities provider’s stock valued at $1,125,000 after buying an additional 12,852 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Artesian Resources by 11.6% during the 4th quarter. Russell Investments Group Ltd. now owns 61,035 shares of the utilities provider’s stock worth $1,929,000 after acquiring an additional 6,360 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Artesian Resources by 9.0% during the 4th quarter. Royal Bank of Canada now owns 5,813 shares of the utilities provider’s stock valued at $183,000 after acquiring an additional 480 shares in the last quarter. 57.37% of the stock is currently owned by institutional investors and hedge funds.

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.