Artesian Resources Co. (NASDAQ:ARTNA) Sees Significant Decrease in Short Interest

Artesian Resources Co. (NASDAQ:ARTNA) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 66,600 shares, a decline of 23.5% from the January 15th total of 87,100 shares. Based on an average daily volume of 37,000 shares, the days-to-cover ratio is currently 1.8 days.

Artesian Resources Stock Down 0.5 %

Shares of NASDAQ ARTNA traded down $0.17 during mid-day trading on Friday, reaching $31.26. The company had a trading volume of 19,290 shares, compared to its average volume of 38,483. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.07 and a current ratio of 1.22. The stock has a market capitalization of $321.98 million, a PE ratio of 16.03 and a beta of 0.23. Artesian Resources has a twelve month low of $29.45 and a twelve month high of $41.29. The stock’s 50 day moving average is $31.31 and its 200-day moving average is $34.26.

Artesian Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be issued a dividend of $0.3014 per share. This represents a $1.21 dividend on an annualized basis and a yield of 3.86%. This is a boost from Artesian Resources’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, February 7th. Artesian Resources’s dividend payout ratio is 62.05%.

Institutional Investors Weigh In On Artesian Resources

Several hedge funds have recently made changes to their positions in ARTNA. R Squared Ltd acquired a new position in shares of Artesian Resources in the 4th quarter worth approximately $63,000. Aquatic Capital Management LLC lifted its holdings in Artesian Resources by 703.3% during the 4th quarter. Aquatic Capital Management LLC now owns 2,410 shares of the utilities provider’s stock worth $76,000 after buying an additional 2,110 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Artesian Resources by 100.2% during the 4th quarter. Wells Fargo & Company MN now owns 3,514 shares of the utilities provider’s stock worth $111,000 after buying an additional 1,759 shares in the last quarter. Ballentine Partners LLC acquired a new position in Artesian Resources during the 3rd quarter worth $217,000. Finally, Atria Investments Inc lifted its holdings in Artesian Resources by 7.1% during the 3rd quarter. Atria Investments Inc now owns 6,527 shares of the utilities provider’s stock worth $243,000 after buying an additional 431 shares in the last quarter. Institutional investors own 57.37% of the company’s stock.

Artesian Resources Company Profile

Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. 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 collection, treatment infrastructure, and wastewater services to customers in Delaware.