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

Arhaus, Inc. (NASDAQ:ARHS) was the recipient of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 6,580,000 shares, a decrease of 10.4% from the January 15th total of 7,340,000 shares. Based on an average daily volume of 1,500,000 shares, the days-to-cover ratio is currently 4.4 days. Approximately 13.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

A number of research firms have commented on ARHS. Piper Sandler increased their price target on Arhaus from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Jefferies Financial Group raised their target price on Arhaus from $9.50 to $10.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Bank of America downgraded Arhaus from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $11.00 in a research report on Thursday, November 7th. Barclays dropped their price objective on Arhaus from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Finally, Loop Capital began coverage on Arhaus in a research note on Friday, January 24th. They set a “hold” rating and a $12.00 target price for the company. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Arhaus presently has an average rating of “Moderate Buy” and an average target price of $12.18.

Arhaus Stock Performance

Shares of ARHS traded up $0.14 during mid-day trading on Friday, reaching $12.60. 1,731,354 shares of the company’s stock traded hands, compared to its average volume of 1,736,428. Arhaus has a 12 month low of $8.30 and a 12 month high of $19.81. The stock has a market capitalization of $1.77 billion, a P/E ratio of 22.50, a price-to-earnings-growth ratio of 13.29 and a beta of 2.63. The business’s 50-day moving average price is $10.95 and its 200-day moving average price is $10.98. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 1.23.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Daymark Wealth Partners LLC grew its position in Arhaus by 2.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 43,000 shares of the company’s stock worth $404,000 after purchasing an additional 1,000 shares in the last quarter. Rhumbline Advisers increased its stake in Arhaus by 1.8% in the fourth quarter. Rhumbline Advisers now owns 71,506 shares of the company’s stock valued at $672,000 after acquiring an additional 1,231 shares during the period. Victory Capital Management Inc. raised its position in Arhaus by 5.8% in the third quarter. Victory Capital Management Inc. now owns 25,893 shares of the company’s stock worth $319,000 after purchasing an additional 1,416 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Arhaus by 4.3% during the fourth quarter. Legal & General Group Plc now owns 37,440 shares of the company’s stock worth $352,000 after buying an additional 1,531 shares in the last quarter. Finally, Soros Capital Management LLC increased its holdings in shares of Arhaus by 18.2% during the third quarter. Soros Capital Management LLC now owns 21,857 shares of the company’s stock worth $269,000 after buying an additional 3,358 shares in the last quarter. Institutional investors and hedge funds own 27.88% of the company’s stock.

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.