Artesian Resources Corporation (NASDAQ:ARTNA) Short Interest Update

Artesian Resources Corporation (NASDAQ:ARTNA) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 76,813 shares, an increase of 29.8% from the December 31st total of 59,196 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 28,110 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily trading volume, of 28,110 shares, the days-to-cover ratio is currently 2.7 days. Approximately 0.9% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

ARTNA has been the subject of several recent analyst reports. Zacks Research raised shares of Artesian Resources from a “strong sell” rating to a “hold” rating in a 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 investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Artesian Resources Stock Performance

NASDAQ ARTNA opened at $33.29 on Wednesday. Artesian Resources has a twelve month low of $29.97 and a twelve month high of $36.19. The stock has a market cap of $343.22 million, a PE ratio of 15.20 and a beta of 0.36. The stock has a fifty day simple moving average of $32.19 and a 200-day simple moving average of $32.58. The company has a current ratio of 0.68, a quick ratio of 0.54 and a debt-to-equity ratio of 0.70.

Artesian Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Friday, February 13th will be issued a dividend of $0.3136 per share. This represents a $1.25 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, February 13th. Artesian Resources’s dividend payout ratio (DPR) is 57.08%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 3,079 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Artesian Resources during the 2nd quarter worth $5,034,000. Legal & General Group Plc grew its stake in shares of Artesian Resources by 14.3% during the second quarter. Legal & General Group Plc now owns 142,048 shares of the utilities provider’s stock worth $4,767,000 after purchasing an additional 17,752 shares in the last quarter. Roffman Miller Associates Inc. PA grew its stake in shares of Artesian Resources by 16.4% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 137,337 shares of the utilities provider’s stock worth $4,341,000 after purchasing an additional 19,342 shares in the last quarter. Finally, Prospera Financial Services Inc increased its holdings in Artesian Resources by 93.9% in the third quarter. Prospera Financial Services Inc now owns 117,493 shares of the utilities provider’s stock valued at $3,830,000 after buying an additional 56,890 shares during the last quarter. Hedge funds and other institutional investors own 57.37% of the company’s stock.

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.