Arhaus (NASDAQ:ARHS) Shares Down 8.9% – Here’s What Happened

Shares of Arhaus, Inc. (NASDAQ:ARHS) dropped 8.9% on Thursday . The stock traded as low as $9.89 and last traded at $9.98. Approximately 314,163 shares changed hands during trading, a decline of 82% from the average daily volume of 1,736,970 shares. The stock had previously closed at $10.95.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ARHS. Piper Sandler downgraded Arhaus from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $15.00 to $12.00 in a report on Thursday. Bank of America downgraded shares of Arhaus from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $15.00 to $11.00 in a research report on Thursday, November 7th. Barclays lowered their target price on Arhaus from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Wedbush reduced their price objective on Arhaus from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Finally, Loop Capital initiated coverage on Arhaus in a research report on Friday, January 24th. They issued a “hold” rating and a $12.00 target price on the stock. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.82.

Arhaus Trading Down 16.0 %

The company has a current ratio of 1.23, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average price of $11.19 and a 200-day moving average price of $10.88. The company has a market cap of $1.29 billion, a P/E ratio of 16.45, a PEG ratio of 11.57 and a beta of 2.63.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ARHS. Paradigm Capital Management Inc. NY acquired a new stake in Arhaus in the 4th quarter valued at about $564,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Arhaus by 30.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,835 shares of the company’s stock valued at $675,000 after buying an additional 16,620 shares during the last quarter. Rafferty Asset Management LLC boosted its stake in shares of Arhaus by 28.2% during the 4th quarter. Rafferty Asset Management LLC now owns 15,513 shares of the company’s stock worth $146,000 after acquiring an additional 3,410 shares during the period. ProShare Advisors LLC acquired a new position in shares of Arhaus during the 4th quarter worth approximately $136,000. Finally, Meros Investment Management LP raised its stake in Arhaus by 16.3% in the 4th quarter. Meros Investment Management LP now owns 580,680 shares of the company’s stock valued at $5,458,000 after acquiring an additional 81,353 shares during the period. 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.