Arhaus, Inc. (NASDAQ:ARHS – Get Rating) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 3,120,000 shares, a growth of 8.7% from the October 31st total of 2,870,000 shares. Approximately 15.9% of the shares of the stock are sold short. Based on an average daily volume of 419,700 shares, the days-to-cover ratio is presently 7.4 days.
Analysts Set New Price Targets
Several research analysts have weighed in on ARHS shares. Barclays dropped their price target on Arhaus to $13.00 in a research note on Wednesday, November 16th. Morgan Stanley upped their price objective on Arhaus from $9.00 to $11.00 and gave the stock an "equal weight" rating in a report on Friday, November 11th. William Blair reaffirmed an "outperform" rating on shares of Arhaus in a report on Friday, October 28th. Finally, Telsey Advisory Group decreased their price objective on Arhaus from $12.00 to $9.00 and set an "outperform" rating on the stock in a report on Monday, August 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $12.00.
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Arhaus Trading Up 3.3 %
NASDAQ:ARHS traded up $0.33 during midday trading on Friday, hitting $10.26. 1,163,729 shares of the company traded hands, compared to its average volume of 613,067. The firm's fifty day moving average is $8.26 and its 200-day moving average is $7.14. Arhaus has a 12-month low of $4.23 and a 12-month high of $14.95. The firm has a market capitalization of $1.44 billion and a P/E ratio of 14.45. The company has a current ratio of 1.14, a quick ratio of 0.45 and a debt-to-equity ratio of 0.32.
Insiders Place Their Bets
In other Arhaus news, Director Alton F. Doody III purchased 11,750 shares of the company's stock in a transaction on Tuesday, September 13th. The stock was acquired at an average cost of $8.50 per share, for a total transaction of $99,875.00. Following the purchase, the director now directly owns 23,500 shares of the company's stock, valued at approximately $199,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through
this link. 1.60% of the stock is currently owned by corporate insiders.
Institutional Trading of Arhaus
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. purchased a new stake in Arhaus during the 3rd quarter valued at $347,000. Capital Impact Advisors LLC grew its position in Arhaus by 61.6% in the 3rd quarter. Capital Impact Advisors LLC now owns 84,184 shares of the company's stock valued at $702,000 after acquiring an additional 32,094 shares during the last quarter. Jane Street Group LLC bought a new position in Arhaus in the 3rd quarter valued at $106,000. State Street Corp grew its position in shares of Arhaus by 25.7% during the 3rd quarter. State Street Corp now owns 61,613 shares of the company's stock worth $434,000 after buying an additional 12,600 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Arhaus during the 3rd quarter worth $212,000. Hedge funds and other institutional investors own 30.46% of the company's stock.
About Arhaus
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Arhaus, Inc operates as a lifestyle brand and premium retailer in the home furnishings market. 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 and modular storage, etc.; and outdoor products include outdoor dining tables, chairs, chaises and other furniture, lighting, textiles, décor, umbrellas, and fire pits.
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