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

Arhaus, Inc. (NASDAQ:ARHS) was the target of a large increase in short interest in 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 trading volume of 1,370,000 shares, the days-to-cover ratio is presently 4.5 days. Currently, 12.0% of the company’s stock are short sold.

Arhaus Stock Performance

ARHS opened at $9.40 on Monday. Arhaus has a 1-year low of $8.30 and a 1-year high of $19.81. The stock has a market cap of $1.32 billion, a P/E ratio of 16.79, a P/E/G ratio of 12.33 and a beta of 2.58. The stock’s 50 day simple moving average is $10.47 and its 200 day simple moving average is $13.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.52.

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

Hedge Funds Weigh In On Arhaus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD purchased a new position in shares of Arhaus during the 1st quarter worth approximately $8,326,000. Sei Investments Co. increased its position in Arhaus by 192.7% during the first quarter. Sei Investments Co. now owns 383,091 shares of the company’s stock worth $5,896,000 after buying an additional 252,192 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings 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 worth $2,605,000 after acquiring an additional 112,583 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Arhaus by 142.4% in the first quarter. Russell Investments Group Ltd. now owns 311,509 shares of the company’s stock worth $4,794,000 after acquiring an additional 182,979 shares during the last quarter. Finally, Carnegie Investment Counsel lifted its position in shares of Arhaus by 176.8% in the third quarter. Carnegie Investment Counsel now owns 294,740 shares of the company’s stock valued at $3,628,000 after acquiring an additional 188,240 shares in the last quarter. Institutional investors and hedge funds own 27.88% of the company’s stock.

Analyst Upgrades and Downgrades

ARHS has been the subject of a number of research analyst reports. Telsey Advisory Group raised Arhaus from a “market perform” rating to an “outperform” rating and upped their price target for the company from $11.00 to $12.00 in a report on Thursday. Stifel Nicolaus lowered their target price on shares of Arhaus from $16.00 to $13.00 and set a “buy” rating for the company in a report on Monday, November 4th. Barclays cut their target price on Arhaus from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Craig Hallum cut shares of Arhaus from a “buy” rating to a “hold” rating and cut their target price for the company from $14.00 to $10.00 in a report on Tuesday, October 15th. Finally, Wedbush reduced their price objective on Arhaus from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.90.

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.