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

Arhaus, Inc. (NASDAQ:ARHS) saw a large increase in short interest during the month of 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 daily volume of 1,370,000 shares, the days-to-cover ratio is currently 4.5 days. Currently, 12.0% of the company’s shares are short sold.

Arhaus Stock Performance

ARHS opened at $9.15 on Tuesday. The company has a market cap of $1.29 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 12.33 and a beta of 2.58. The company’s fifty day moving average price is $10.47 and its two-hundred day moving average price is $13.64. Arhaus has a 1-year low of $8.30 and a 1-year high of $19.81. The company has a current ratio of 1.23, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17.

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 the consensus estimate of $0.08 by ($0.01). The business had revenue of $319.13 million during the quarter, compared to the consensus estimate of $328.94 million. Arhaus had a net margin of 6.18% and a return on equity of 24.92%. Arhaus’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.14 EPS. On average, analysts expect that Arhaus will post 0.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ARHS shares. Stifel Nicolaus lowered their price objective on Arhaus from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, November 4th. TD Cowen lowered their target price on Arhaus from $19.00 to $14.00 and set a “buy” rating for the company in a report on Friday, August 9th. Jefferies Financial Group restated a “hold” rating and set a $12.00 price target on shares of Arhaus in a report on Wednesday, October 9th. Barclays lowered their price objective on shares of Arhaus from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Finally, Robert W. Baird cut their target price on shares of Arhaus from $18.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.90.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its holdings in Arhaus by 5.8% during 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 during the last quarter. Amalgamated Bank purchased a new position in shares of Arhaus in the 2nd quarter worth approximately $30,000. Soros Capital Management LLC grew its holdings in shares of Arhaus by 18.2% in the third quarter. Soros Capital Management LLC now owns 21,857 shares of the company’s stock valued at $269,000 after acquiring an additional 3,358 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Arhaus by 8.7% during the third quarter. Janus Henderson Group PLC now owns 44,217 shares of the company’s stock valued at $544,000 after acquiring an additional 3,529 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in Arhaus during the third quarter worth $43,000. Hedge funds and other institutional investors 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.