Arhaus, Inc. (NASDAQ:ARHS) Short Interest Down 14.9% in August

Arhaus, Inc. (NASDAQ:ARHS) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 7,190,000 shares, a drop of 14.9% from the August 15th total of 8,450,000 shares. Approximately 14.2% of the company’s stock are short sold. Based on an average trading volume of 1,400,000 shares, the days-to-cover ratio is currently 5.1 days.

Analysts Set New Price Targets

ARHS has been the subject of a number of analyst reports. Jefferies Financial Group downgraded Arhaus from a “buy” rating to a “hold” rating and decreased their price target for the company from $22.00 to $16.00 in a research note on Monday, July 8th. Telsey Advisory Group reissued an “outperform” rating and issued a $15.00 price objective on shares of Arhaus in a research report on Monday, August 12th. Craig Hallum reduced their target price on shares of Arhaus from $21.00 to $14.00 and set a “buy” rating for the company in a report on Friday, August 9th. Stifel Nicolaus decreased their price target on shares of Arhaus from $19.50 to $16.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Finally, Barclays reduced their price objective on Arhaus from $17.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Arhaus currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Arhaus Stock Performance

Shares of NASDAQ:ARHS opened at $12.35 on Tuesday. Arhaus has a 1 year low of $7.56 and a 1 year high of $19.81. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 12.49 and a beta of 2.52. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.25 and a quick ratio of 0.55. The company’s 50 day simple moving average is $13.40 and its 200 day simple moving average is $14.99.

Arhaus (NASDAQ:ARHS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.04. The company had revenue of $309.80 million for the quarter, compared to analyst estimates of $314.28 million. Arhaus had a return on equity of 28.45% and a net margin of 6.92%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 EPS. As a group, research analysts predict that Arhaus will post 0.48 EPS for the current fiscal year.

Insider Transactions at Arhaus

In related news, insider Venkatachalam Nachiappan sold 6,460 shares of the stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $16.11, for a total transaction of $104,070.60. Following the completion of the transaction, the insider now owns 36,736 shares in the company, valued at $591,816.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.52% of the company’s stock.

Institutional Investors Weigh In On Arhaus

A number of hedge funds have recently made changes to their positions in ARHS. Wasatch Advisors LP lifted its stake in Arhaus by 147.1% in the 1st quarter. Wasatch Advisors LP now owns 8,792,207 shares of the company’s stock valued at $135,312,000 after purchasing an additional 5,233,776 shares during the last quarter. Vanguard Group Inc. grew its position in Arhaus by 11.8% during the 1st quarter. Vanguard Group Inc. now owns 4,387,126 shares of the company’s stock worth $67,518,000 after acquiring an additional 463,749 shares during the last quarter. American Century Companies Inc. raised its position in Arhaus by 120.6% in the second quarter. American Century Companies Inc. now owns 4,060,484 shares of the company’s stock valued at $68,785,000 after purchasing an additional 2,219,554 shares during the last quarter. Hood River Capital Management LLC raised its position in Arhaus by 0.6% in the first quarter. Hood River Capital Management LLC now owns 1,547,296 shares of the company’s stock valued at $23,813,000 after purchasing an additional 8,824 shares during the last quarter. Finally, Summit Creek Advisors LLC boosted its stake in shares of Arhaus by 0.7% during the first quarter. Summit Creek Advisors LLC now owns 1,261,837 shares of the company’s stock valued at $19,420,000 after purchasing an additional 8,461 shares in the last quarter. 27.88% of the stock is currently owned by institutional investors and hedge funds.

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.