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

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Artesian Resources Co. (NASDAQ:ARTNA) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totalling 47,800 shares, a growth of 46.6% from the February 27th total of 32,600 shares. Based on an average daily trading volume, of 23,400 shares, the short-interest ratio is presently 2.0 days. Approximately 0.6% of the company’s shares are short sold.

Several brokerages have issued reports on ARTNA. Boenning Scattergood reaffirmed an “outperform” rating on shares of Artesian Resources in a research report on Monday, March 16th. BidaskClub raised shares of Artesian Resources from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Finally, ValuEngine downgraded shares of Artesian Resources from a “buy” rating to a “hold” rating in a research report on Friday, March 20th.

Shares of NASDAQ:ARTNA opened at $36.03 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 0.90. Artesian Resources has a 52-week low of $30.01 and a 52-week high of $39.60. The company has a 50 day moving average of $35.67 and a two-hundred day moving average of $36.79. The company has a market capitalization of $316.03 million, a price-to-earnings ratio of 22.38 and a beta of 0.18.

A number of large investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its position in Artesian Resources by 1.7% in the fourth quarter. Renaissance Technologies LLC now owns 409,010 shares of the utilities provider’s stock valued at $15,219,000 after acquiring an additional 7,000 shares in the last quarter. State Street Corp grew its position in shares of Artesian Resources by 3.6% during the fourth quarter. State Street Corp now owns 172,061 shares of the utilities provider’s stock worth $6,402,000 after buying an additional 5,976 shares in the last quarter. Dalton Greiner Hartman Maher & Co. grew its position in shares of Artesian Resources by 4.5% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 105,148 shares of the utilities provider’s stock worth $3,913,000 after buying an additional 4,493 shares in the last quarter. FCA Corp TX grew its position in shares of Artesian Resources by 1.1% during the fourth quarter. FCA Corp TX now owns 84,611 shares of the utilities provider’s stock worth $3,148,000 after buying an additional 919 shares in the last quarter. Finally, Roffman Miller Associates Inc. PA grew its position in shares of Artesian Resources by 7.4% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 77,615 shares of the utilities provider’s stock worth $2,888,000 after buying an additional 5,316 shares in the last quarter. 41.38% of the stock is owned by institutional investors.

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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