Artesian Resources Co. (NASDAQ:ARTNA) was the target of a large growth in short interest in the month of 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. Approximately 0.5% of the shares of the company are short sold. Based on an average daily volume of 13,300 shares, the days-to-cover ratio is presently 3.2 days.
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. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.33 and a quick ratio of 0.29. The stock’s fifty day moving average is $36.62. Artesian Resources has a 12 month low of $32.27 and a 12 month high of $40.97.
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%.
A number of research analysts have recently weighed in on ARTNA shares. ValuEngine downgraded Zymeworks from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. BidaskClub downgraded Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, June 26th.
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. Insiders own 20.59% of the company’s stock.
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 shares of Artesian Resources in the fourth quarter valued at approximately $3,506,000. First Trust Advisors LP raised its position in shares of Artesian Resources by 18.7% in the fourth quarter. First Trust Advisors LP now owns 14,173 shares of the utilities provider’s stock valued at $494,000 after buying an additional 2,237 shares in the last quarter. Martingale Asset Management L P raised its position in shares of Artesian Resources by 11.3% in the first quarter. Martingale Asset Management L P now owns 39,304 shares of the utilities provider’s stock valued at $1,465,000 after buying an additional 4,000 shares in the last quarter. Finally, Dalton Greiner Hartman Maher & Co. raised its position in shares of Artesian Resources by 8.1% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 99,227 shares of the utilities provider’s stock valued at $3,698,000 after buying an additional 7,452 shares in 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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