Short Interest in Artesian Resources Co. (NASDAQ:ARTNA) Expands By 8.6%

Artesian Resources Co. (NASDAQ:ARTNA) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 42,800 shares, a growth of 8.6% from the May 15th total of 39,400 shares. Based on an average trading volume of 13,300 shares, the short-interest ratio is currently 3.2 days. Approximately 0.5% of the shares of the company are sold short.

Shares of ARTNA stock traded down $0.28 during trading hours on Friday, hitting $35.76. The company had a trading volume of 5,472 shares, compared to its average volume of 10,638. The company has a market cap of $331.64 million, a price-to-earnings ratio of 23.07 and a beta of 0.11. Artesian Resources has a 12 month low of $32.27 and a 12 month high of $40.97. The stock’s fifty day moving average is $36.62. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.33 and a quick ratio of 0.29.

Artesian Resources (NASDAQ:ARTNA) last announced its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.39 EPS for the quarter. The firm had revenue of $19.39 million for the quarter. Artesian Resources had a return on equity of 9.49% and a net margin of 17.79%.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a dividend of $0.246 per share. This represents a $0.98 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, August 8th. This is an increase from Artesian Resources’s previous quarterly dividend of $0.25.

A number of research analysts have recently weighed in on ARTNA shares. BidaskClub downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, June 26th. ValuEngine downgraded Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, May 18th.

In other Artesian Resources news, Director Kenneth R. Biederman sold 1,000 shares of Artesian Resources stock in a transaction on Friday, May 17th. The stock was sold at an average price of $35.99, for a total transaction of $35,990.00. Following the sale, the director now owns 19,875 shares of the company’s stock, valued at approximately $715,301.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 20.59% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of ARTNA. BlackRock Inc. lifted its position in Artesian Resources by 4.0% during the fourth quarter. BlackRock Inc. now owns 439,716 shares of the utilities provider’s stock worth $15,333,000 after acquiring an additional 16,890 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new stake in Artesian Resources during the fourth quarter worth approximately $3,506,000. First Trust Advisors LP lifted its position in Artesian Resources by 18.7% during the fourth quarter. First Trust Advisors LP now owns 14,173 shares of the utilities provider’s stock worth $494,000 after acquiring an additional 2,237 shares during the last quarter. Martingale Asset Management L P lifted its position in Artesian Resources by 11.3% during the first quarter. Martingale Asset Management L P now owns 39,304 shares of the utilities provider’s stock worth $1,465,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. lifted its position in Artesian Resources by 8.1% during the first quarter. Dalton Greiner Hartman Maher & Co. now owns 99,227 shares of the utilities provider’s stock worth $3,698,000 after acquiring an additional 7,452 shares during the last quarter. 42.30% of the stock is currently owned by institutional investors and hedge funds.

Artesian Resources Company Profile

Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services on the Delmarva Peninsula. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection in the states of Delaware, Maryland, and Pennsylvania; and offers wastewater services to customers in Delaware.

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