Artesian Resources Co. (NASDAQ:ARTNA) Short Interest Update

Artesian Resources Co. (NASDAQ:ARTNA) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 87,900 shares, an increase of 21.6% from the February 13th total of 72,300 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average trading volume of 40,700 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Palisades Investment Partners LLC boosted its stake in shares of Artesian Resources by 8.2% in the 4th quarter. Palisades Investment Partners LLC now owns 51,777 shares of the utilities provider’s stock valued at $1,637,000 after purchasing an additional 3,910 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Artesian Resources by 5.7% in the 4th quarter. Two Sigma Advisers LP now owns 54,900 shares of the utilities provider’s stock valued at $1,736,000 after acquiring an additional 2,960 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in shares of Artesian Resources in the 4th quarter valued at approximately $550,000. Capstone Investment Advisors LLC acquired a new stake in shares of Artesian Resources in the 4th quarter valued at approximately $544,000. Finally, Citadel Advisors LLC raised its position in shares of Artesian Resources by 56.1% in the 4th quarter. Citadel Advisors LLC now owns 53,305 shares of the utilities provider’s stock valued at $1,686,000 after acquiring an additional 19,152 shares during the period. Institutional investors own 57.37% of the company’s stock.

Artesian Resources Stock Up 0.6 %

Shares of NASDAQ ARTNA opened at $32.16 on Tuesday. The firm has a market capitalization of $331.18 million, a PE ratio of 16.49 and a beta of 0.19. The company has a current ratio of 1.22, a quick ratio of 1.07 and a debt-to-equity ratio of 0.74. Artesian Resources has a 1 year low of $29.45 and a 1 year high of $41.29. The firm’s 50-day moving average is $31.31 and its 200-day moving average is $33.55.

Artesian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $0.3014 dividend. This represents a $1.21 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Friday, February 7th. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.30. Artesian Resources’s dividend payout ratio (DPR) is 61.54%.

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.