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

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Artesian Resources

Several hedge funds have recently bought and sold shares of ARTNA. Vanguard Group Inc. increased its stake in Artesian Resources by 0.6% in the third quarter. Vanguard Group Inc. now owns 514,412 shares of the utilities provider’s stock worth $16,767,000 after purchasing an additional 3,079 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Artesian Resources by 344,107.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 326,997 shares of the utilities provider’s stock valued at $10,336,000 after purchasing an additional 326,902 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in shares of Artesian Resources in the second quarter worth about $5,034,000. Legal & General Group Plc increased its stake in Artesian Resources by 14.3% in the 2nd quarter. Legal & General Group Plc now owns 142,048 shares of the utilities provider’s stock worth $4,767,000 after buying an additional 17,752 shares during the period. Finally, Roffman Miller Associates Inc. PA increased its stake in Artesian Resources by 16.4% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 137,337 shares of the utilities provider’s stock worth $4,341,000 after buying an additional 19,342 shares during the period. Institutional investors own 57.37% of the company’s stock.

Artesian Resources Stock Performance

Artesian Resources stock opened at $32.72 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.68 and a quick ratio of 0.54. Artesian Resources has a 1-year low of $30.50 and a 1-year high of $36.19. The firm has a market capitalization of $337.34 million, a P/E ratio of 14.74 and a beta of 0.36. The company’s 50-day moving average is $33.18 and its 200 day moving average is $32.62.

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

Artesian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 13th were paid a dividend of $0.3136 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, February 13th. Artesian Resources’s dividend payout ratio (DPR) is currently 56.31%.

Artesian Resources Company Profile

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.