Arhaus (NASDAQ:ARHS) Stock Price Down 16.8% – Here’s What Happened

Shares of Arhaus, Inc. (NASDAQ:ARHS) dropped 16.8% during mid-day trading on Thursday . The company traded as low as $7.52 and last traded at $7.34. Approximately 246,809 shares were traded during trading, a decline of 84% from the average daily volume of 1,515,272 shares. The stock had previously closed at $8.82.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Telsey Advisory Group reissued an “outperform” rating and issued a $11.00 price objective on shares of Arhaus in a research report on Wednesday, February 26th. Jefferies Financial Group boosted their price target on Arhaus from $9.50 to $10.00 and gave the stock a “hold” rating in a research note on Friday, January 10th. Piper Sandler lowered shares of Arhaus from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $15.00 to $12.00 in a research report on Thursday, February 27th. Stifel Nicolaus dropped their target price on shares of Arhaus from $14.00 to $11.50 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Finally, Robert W. Baird raised their price target on shares of Arhaus from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.59.

Arhaus Stock Down 15.1 %

The company has a quick ratio of 0.52, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 11.57 and a beta of 2.68. The business’s 50-day moving average is $10.68 and its 200-day moving average is $10.42.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Arhaus by 12.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,207,981 shares of the company’s stock worth $14,874,000 after buying an additional 134,312 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Arhaus during the 3rd quarter worth about $814,000. JPMorgan Chase & Co. lifted its stake in Arhaus by 1,808.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,962,232 shares of the company’s stock valued at $24,155,000 after buying an additional 1,859,398 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Arhaus by 19.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 426,575 shares of the company’s stock worth $5,251,000 after acquiring an additional 69,853 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Arhaus by 41.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 537,296 shares of the company’s stock worth $5,051,000 after buying an additional 157,515 shares in the last quarter. Hedge funds and other 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.