Arhaus, Inc. (NASDAQ:ARHS) Sees Large Increase in Short Interest

Arhaus, Inc. (NASDAQ:ARHS) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 6,110,000 shares, an increase of 5.2% from the October 15th total of 5,810,000 shares. Based on an average daily volume of 1,370,000 shares, the short-interest ratio is presently 4.5 days. Currently, 12.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Arhaus

A number of institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD purchased a new stake in Arhaus during the 1st quarter worth about $8,326,000. Sei Investments Co. raised its position in shares of Arhaus by 192.7% in the first quarter. Sei Investments Co. now owns 383,091 shares of the company’s stock valued at $5,896,000 after buying an additional 252,192 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Arhaus by 273.4% in the second quarter. Harbor Capital Advisors Inc. now owns 153,764 shares of the company’s stock valued at $2,605,000 after buying an additional 112,583 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Arhaus by 142.4% during the first quarter. Russell Investments Group Ltd. now owns 311,509 shares of the company’s stock valued at $4,794,000 after buying an additional 182,979 shares during the period. Finally, Carnegie Investment Counsel boosted its position in Arhaus by 176.8% during the third quarter. Carnegie Investment Counsel now owns 294,740 shares of the company’s stock worth $3,628,000 after acquiring an additional 188,240 shares during the last quarter. 27.88% of the stock is owned by institutional investors and hedge funds.

Arhaus Stock Performance

Shares of ARHS opened at $9.25 on Wednesday. Arhaus has a 12-month low of $8.30 and a 12-month high of $19.81. The stock has a market cap of $1.30 billion, a P/E ratio of 16.52, a PEG ratio of 12.33 and a beta of 2.58. The company has a current ratio of 1.23, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average of $10.41 and a two-hundred day moving average of $13.59.

Arhaus (NASDAQ:ARHS) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). Arhaus had a return on equity of 24.92% and a net margin of 6.18%. The company had revenue of $319.13 million for the quarter, compared to analyst estimates of $328.94 million. During the same quarter in the prior year, the firm earned $0.14 earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, research analysts predict that Arhaus will post 0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group reissued a “hold” rating and set a $12.00 target price on shares of Arhaus in a research note on Wednesday, October 9th. Robert W. Baird cut their price objective on Arhaus from $18.00 to $14.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Stifel Nicolaus decreased their target price on shares of Arhaus from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Telsey Advisory Group upgraded shares of Arhaus from a “market perform” rating to an “outperform” rating and increased their price target for the company from $11.00 to $12.00 in a report on Thursday, November 14th. Finally, Craig Hallum downgraded shares of Arhaus from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $14.00 to $10.00 in a report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.90.

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.