Artesian Resources Co. (NASDAQ:ARTNA) Short Interest Up 27.5% in April

Artesian Resources Co. (NASDAQ:ARTNA - Get Free Report) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 71,800 shares, a growth of 27.5% from the March 31st total of 56,300 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 43,100 shares, the days-to-cover ratio is currently 1.7 days.

Hedge Funds Weigh In On Artesian Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARTNA. GAMMA Investing LLC grew its stake in shares of Artesian Resources by 4,084.4% in the 1st quarter. GAMMA Investing LLC now owns 1,339 shares of the utilities provider's stock valued at $41,000 after buying an additional 1,307 shares during the period. R Squared Ltd bought a new position in shares of Artesian Resources in the fourth quarter worth $63,000. Aquatic Capital Management LLC increased 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 acquiring an additional 2,110 shares during the period. Wells Fargo & Company MN boosted its position in shares of Artesian Resources by 100.2% during the 4th quarter. Wells Fargo & Company MN now owns 3,514 shares of the utilities provider's stock valued at $111,000 after acquiring an additional 1,759 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Artesian Resources during the fourth quarter worth about $272,000. Institutional investors own 57.37% of the company's stock.

Artesian Resources Stock Down 1.7 %

Shares of NASDAQ:ARTNA traded down $0.60 during trading on Wednesday, hitting $34.39. 30,036 shares of the company's stock traded hands, compared to its average volume of 50,370. The company has a market cap of $354.27 million, a price-to-earnings ratio of 17.63 and a beta of 0.36. Artesian Resources has a 52 week low of $29.45 and a 52 week high of $41.29. The company has a 50-day moving average price of $33.09 and a 200-day moving average price of $32.72. 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 (NASDAQ:ARTNA - Get Free Report) last released its earnings results on Monday, May 5th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.18. The business had revenue of $25.89 million for the quarter, compared to analyst estimates of $25.00 million. Artesian Resources had a return on equity of 8.57% and a net margin of 18.96%. As a group, research analysts forecast that Artesian Resources will post 1.92 EPS for the current fiscal year.

Artesian Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Friday, May 16th will be given a $0.3074 dividend. The ex-dividend date of this dividend is Friday, May 16th. This is a boost from Artesian Resources's previous quarterly dividend of $0.30. This represents a $1.23 annualized dividend and a dividend yield of 3.58%. Artesian Resources's payout ratio is presently 57.69%.

Analyst Ratings Changes

Separately, StockNews.com raised Artesian Resources from a "hold" rating to a "buy" rating in a report on Monday.

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.