Short Interest in Arhaus, Inc. (NASDAQ:ARHS) Declines By 14.9%

Arhaus, Inc. (NASDAQ:ARHS - Get Free Report) was the target of a significant drop in short interest in the month of 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. Based on an average trading volume of 1,400,000 shares, the days-to-cover ratio is presently 5.1 days. Approximately 14.2% of the company's shares are sold short.

Insider Transactions at Arhaus

In related news, insider Venkatachalam Nachiappan sold 6,460 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $16.11, for a total value of $104,070.60. Following the transaction, the insider now owns 36,736 shares of the company's stock, valued at $591,816.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.52% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ARHS. Wasatch Advisors LP raised its stake in shares of Arhaus by 147.1% in the first quarter. Wasatch Advisors LP now owns 8,792,207 shares of the company's stock worth $135,312,000 after purchasing an additional 5,233,776 shares during the last quarter. American Century Companies Inc. raised its position in Arhaus by 120.6% during the 2nd quarter. American Century Companies Inc. now owns 4,060,484 shares of the company's stock worth $68,785,000 after buying an additional 2,219,554 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Arhaus during the 2nd quarter valued at approximately $21,034,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Arhaus in the 1st quarter valued at $8,326,000. Finally, Silvercrest Asset Management Group LLC acquired a new stake in shares of Arhaus in the first quarter worth $8,301,000. Hedge funds and other institutional investors own 27.88% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on ARHS. Jefferies Financial Group cut shares of Arhaus from a "buy" rating to a "hold" rating and dropped their target price for the stock from $22.00 to $16.00 in a report on Monday, July 8th. Barclays dropped their price objective on shares of Arhaus from $17.00 to $15.00 and set an "overweight" rating on the stock in a research note on Friday, August 9th. Craig Hallum lowered their target price on Arhaus from $21.00 to $14.00 and set a "buy" rating for the company in a report on Friday, August 9th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $15.00 target price on shares of Arhaus in a research report on Monday, August 12th. Finally, Robert W. Baird reduced their price target on Arhaus from $18.00 to $14.00 and set an "outperform" rating for the company in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $15.00.

Arhaus Stock Down 0.8 %

NASDAQ:ARHS traded down $0.10 during mid-day trading on Monday, hitting $12.35. 732,757 shares of the company's stock traded hands, compared to its average volume of 1,245,926. The company has a fifty day moving average of $13.45 and a 200 day moving average of $14.99. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.55 and a current ratio of 1.25. Arhaus has a twelve month low of $7.56 and a twelve month high of $19.81. The company has a market capitalization of $1.73 billion, a P/E ratio of 16.49, a P/E/G ratio of 12.49 and a beta of 2.52.

Arhaus (NASDAQ:ARHS - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $309.80 million for the quarter, compared to the consensus estimate of $314.28 million. Arhaus had a net margin of 6.92% and a return on equity of 28.45%. The company's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 earnings per share. On average, analysts forecast that Arhaus will post 0.48 EPS for the current year.

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.