Arhaus, Inc. (NASDAQ:ARHS) Sees Significant Growth in Short Interest

Arhaus, Inc. (NASDAQ:ARHS) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 4,630,000 shares, an increase of 5.2% from the May 31st total of 4,400,000 shares. Approximately 9.2% of the company’s shares are sold short. Based on an average trading volume of 1,260,000 shares, the days-to-cover ratio is presently 3.7 days.

Arhaus Stock Down 0.2 %

Shares of NASDAQ:ARHS opened at $15.90 on Thursday. The firm has a 50 day simple moving average of $16.64 and a 200-day simple moving average of $14.37. Arhaus has a twelve month low of $7.56 and a twelve month high of $19.81. The company has a current ratio of 1.21, a quick ratio of 0.61 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $2.23 billion, a PE ratio of 20.92, a P/E/G ratio of 2.63 and a beta of 2.58.

Arhaus (NASDAQ:ARHS) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. The firm had revenue of $295.16 million during the quarter, compared to analysts’ expectations of $263.23 million. Arhaus had a net margin of 8.30% and a return on equity of 34.83%. On average, equities analysts predict that Arhaus will post 0.76 EPS for the current fiscal year.

Insider Transactions at Arhaus

In other news, CFO Dawn Phillipson sold 150,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $18.97, for a total transaction of $2,845,500.00. Following the completion of the transaction, the chief financial officer now directly owns 499,555 shares in the company, valued at $9,476,558.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Dawn Phillipson sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $18.97, for a total value of $2,845,500.00. Following the completion of the transaction, the chief financial officer now owns 499,555 shares of the company’s stock, valued at $9,476,558.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lisa Chi sold 1,500 shares of Arhaus stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $19.14, for a total transaction of $28,710.00. Following the completion of the transaction, the insider now owns 68,785 shares of the company’s stock, valued at approximately $1,316,544.90. The disclosure for this sale can be found here. Company insiders own 1.78% of the company’s stock.

Institutional Trading of Arhaus

Large investors have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in Arhaus in the first quarter valued at approximately $212,000. California State Teachers Retirement System increased its holdings in shares of Arhaus by 16.9% in the 1st quarter. California State Teachers Retirement System now owns 35,858 shares of the company’s stock valued at $552,000 after acquiring an additional 5,178 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Arhaus by 66.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 98,858 shares of the company’s stock valued at $1,521,000 after purchasing an additional 39,626 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Arhaus by 188.1% during the 1st quarter. Janus Henderson Group PLC now owns 44,774 shares of the company’s stock worth $688,000 after purchasing an additional 29,231 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in Arhaus during the 1st quarter worth $290,000. 27.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ARHS. TD Cowen lifted their target price on Arhaus from $18.00 to $19.00 and gave the company a “buy” rating in a report on Monday, May 20th. Bank of America lifted their price objective on Arhaus from $14.50 to $17.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Piper Sandler restated an “overweight” rating and set a $20.00 target price (up from $19.00) on shares of Arhaus in a research note on Friday, May 10th. Robert W. Baird lifted their price target on shares of Arhaus from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $17.00 price objective on shares of Arhaus in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.56.

About Arhaus

Arhaus, Inc operates as a lifestyle brand and premium retailer in the home furnishings market in the United States. It provides merchandise assortments across various categories, including furniture, lighting, textiles, décor, and outdoor. The company's furniture products comprise bedroom, dining room, living room, and home office furnishings, which includes sofas, dining tables and chairs, accent chairs, console and coffee tables, beds, headboards, dressers, desks, bookcases, modular storage, and other items; and outdoor products, such as outdoor dining tables, chairs, chaises and other furniture, lighting, textiles, décor, umbrellas, and fire pits.