Short Interest in Artesian Resources Corporation (NASDAQ:ARTNA) Drops By 45.3%

Artesian Resources Corporation (NASDAQ:ARTNA) was the recipient of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 50,060 shares, a decrease of 45.3% from the July 30th total of 91,570 shares. Based on an average daily volume of 31,270 shares, the short-interest ratio is presently 1.6 days. Currently, 0.6% of the company’s stock are sold short.

Institutional Investors Weigh In On Artesian Resources

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Artesian Resources by 0.6% during 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. raised its position in shares of Artesian Resources by 344,107.4% in 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. Renaissance Technologies LLC lifted its stake in shares of Artesian Resources by 15.1% during the 1st quarter. Renaissance Technologies LLC now owns 320,456 shares of the utilities provider’s stock worth $10,207,000 after buying an additional 42,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Artesian Resources by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 189,917 shares of the utilities provider’s stock worth $6,049,000 after buying an additional 1,220 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in shares of Artesian Resources by 1.0% during the 1st quarter. Kestra Advisory Services LLC now owns 166,443 shares of the utilities provider’s stock worth $5,301,000 after buying an additional 1,664 shares during the period. Institutional investors own 57.37% of the company’s stock.

Artesian Resources Stock Performance

NASDAQ:ARTNA traded down $0.18 during mid-day trading on Tuesday, hitting $35.39. The stock had a trading volume of 13,164 shares, compared to its average volume of 46,422. Artesian Resources has a twelve month low of $30.50 and a twelve month high of $36.00. The stock has a market cap of $365.59 million, a price-to-earnings ratio of 15.45 and a beta of 0.33. The company’s 50 day simple moving average is $34.49 and its 200 day simple moving average is $33.19. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.89 and a current ratio of 1.01.

Artesian Resources (NASDAQ:ARTNA) last posted its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $30.66 million during the quarter, compared to analysts’ expectations of $29.80 million. Artesian Resources had a return on equity of 9.37% and a net margin of 20.18%.

Artesian Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 17th were issued a dividend of $0.3199 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.6%. Artesian Resources’s payout ratio is presently 55.90%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Artesian Resources from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.