Arhaus (NASDAQ:ARHS) Shares Down 8.8% – Here’s Why

Arhaus, Inc. (NASDAQ:ARHS)’s share price was down 8.8% during trading on Friday . The company traded as low as $8.64 and last traded at $8.56. Approximately 1,066,310 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 1,520,100 shares. The stock had previously closed at $9.38.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ARHS shares. Piper Sandler lowered shares of Arhaus from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $12.00 in a report on Thursday, February 27th. Jefferies Financial Group raised their price target on Arhaus from $9.50 to $10.00 and gave the company a “hold” rating in a report on Friday, January 10th. Robert W. Baird boosted their price objective on Arhaus from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Stifel Nicolaus lowered their price target on shares of Arhaus from $14.00 to $11.50 and set a “buy” rating for the company in a research report on Monday, March 3rd. Finally, Loop Capital began coverage on shares of Arhaus in a report on Friday, January 24th. They issued a “hold” rating and a $12.00 price objective on the stock. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Arhaus currently has an average rating of “Hold” and a consensus target price of $11.59.

Arhaus Stock Down 8.6 %

The firm’s fifty day moving average price is $10.92 and its 200-day moving average price is $10.50. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 11.57 and a beta of 2.68. The company has a current ratio of 1.23, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17.

Hedge Funds Weigh In On Arhaus

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in Arhaus by 12.5% in the third quarter. Geode Capital Management LLC now owns 1,207,981 shares of the company’s stock valued at $14,874,000 after buying an additional 134,312 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Arhaus in the 3rd quarter worth $802,000. Principal Financial Group Inc. acquired a new position in Arhaus in the 3rd quarter worth $814,000. JPMorgan Chase & Co. increased its holdings in Arhaus by 1,808.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,962,232 shares of the company’s stock worth $24,155,000 after purchasing an additional 1,859,398 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Arhaus by 19.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 426,575 shares of the company’s stock valued at $5,251,000 after purchasing an additional 69,853 shares during the period. Institutional investors own 27.88% of the company’s stock.

Arhaus Company Profile

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.