Arhaus (NASDAQ:ARHS) Shares Down 16.8% - Here's What Happened

Arhaus, Inc. (NASDAQ:ARHS - Get Free Report) was down 16.8% during mid-day trading on Thursday . The stock traded as low as $7.52 and last traded at $7.34. Approximately 246,809 shares changed hands 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 equities research analysts have recently weighed in on the company. Jefferies Financial Group boosted their price target on Arhaus from $9.50 to $10.00 and gave the company a "hold" rating in a report on Friday, January 10th. Piper Sandler lowered shares of Arhaus from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $15.00 to $12.00 in a research note on Thursday, February 27th. Baird R W cut Arhaus from a "strong-buy" rating to a "hold" rating in a report on Monday. Telsey Advisory Group reaffirmed an "outperform" rating and set a $11.00 price target on shares of Arhaus in a research note on Wednesday, February 26th. Finally, Robert W. Baird downgraded Arhaus from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $13.00 to $8.50 in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Arhaus presently has a consensus rating of "Hold" and a consensus target price of $11.18.

Arhaus Stock Performance

The firm's fifty day simple moving average is $10.39 and its 200 day simple moving average is $10.29. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 11.57 and a beta of 2.64. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.52.

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Hedge Funds Weigh In On Arhaus

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in shares of Arhaus by 1,532.9% during the fourth quarter. Bank of America Corp DE now owns 2,497,915 shares of the company's stock valued at $23,480,000 after buying an additional 2,672,239 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Arhaus by 1,808.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,962,232 shares of the company's stock valued at $24,155,000 after acquiring an additional 1,859,398 shares in the last quarter. Barclays PLC grew its stake in Arhaus by 108.6% in the fourth quarter. Barclays PLC now owns 110,447 shares of the company's stock valued at $1,038,000 after purchasing an additional 1,391,342 shares in the last quarter. Long Focus Capital Management LLC bought a new stake in shares of Arhaus in the 4th quarter valued at approximately $10,575,000. Finally, Jane Street Group LLC increased its stake in shares of Arhaus by 808.3% during the 4th quarter. Jane Street Group LLC now owns 899,693 shares of the company's stock worth $8,457,000 after purchasing an additional 1,026,710 shares during the last quarter. 27.88% of the stock is currently owned by hedge funds and other institutional investors.

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.