Arhaus, Inc. (NASDAQ:ARHS – Get Rating) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,120,000 shares, an increase of 8.7% from the October 31st total of 2,870,000 shares. Approximately 15.9% of the company's stock are sold short. Based on an average trading volume of 419,700 shares, the days-to-cover ratio is currently 7.4 days.
Analyst Ratings Changes
A number of brokerages have commented on ARHS. Barclays cut their price target on shares of Arhaus to $13.00 in a research note on Wednesday, November 16th. Morgan Stanley lifted their price target on Arhaus from $9.00 to $11.00 and gave the stock an "equal weight" rating in a report on Friday, November 11th. Telsey Advisory Group dropped their price objective on Arhaus from $12.00 to $9.00 and set an "outperform" rating on the stock in a research note on Monday, August 8th. Finally, William Blair reiterated an "outperform" rating on shares of Arhaus in a research note on Friday, October 28th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.00.
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Insider Activity at Arhaus
In related news, Director Alton F. Doody III purchased 11,750 shares of Arhaus stock in a transaction that occurred on Tuesday, September 13th. The stock was purchased at an average cost of $8.50 per share, with a total value of $99,875.00. Following the completion of the transaction, the director now owns 23,500 shares of the company's stock, valued at approximately $199,750. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is owned by company insiders.
Institutional Trading of Arhaus
Several institutional investors have recently added to or reduced their stakes in ARHS. Hood River Capital Management LLC increased its position in Arhaus by 0.3% during the 1st quarter. Hood River Capital Management LLC now owns 891,643 shares of the company's stock worth $7,588,000 after buying an additional 2,415 shares during the period. Lazard Asset Management LLC increased its position in Arhaus by 56.6% during the first quarter. Lazard Asset Management LLC now owns 8,892 shares of the company's stock worth $75,000 after acquiring an additional 3,213 shares during the period. Beacon Investment Advisory Services Inc. raised its stake in Arhaus by 28.1% in the 1st quarter. Beacon Investment Advisory Services Inc. now owns 15,975 shares of the company's stock worth $136,000 after purchasing an additional 3,500 shares in the last quarter. UBS Group AG bought a new stake in Arhaus in the 1st quarter valued at about $36,000. Finally, PDT Partners LLC grew its position in shares of Arhaus by 50.9% during the 3rd quarter. PDT Partners LLC now owns 15,967 shares of the company's stock worth $113,000 after purchasing an additional 5,383 shares in the last quarter. 30.46% of the stock is currently owned by institutional investors.
Arhaus Trading Up 3.3 %
Shares of NASDAQ:ARHS opened at $10.26 on Monday. Arhaus has a 12-month low of $4.23 and a 12-month high of $14.95. The business has a 50 day moving average of $8.26 and a 200-day moving average of $7.15. The company has a quick ratio of 0.45, a current ratio of 1.14 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.44 billion and a PE ratio of 14.45.
Arhaus Company Profile
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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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