Arhaus (NASDAQ:ARHS) Trading 4% Higher – Here’s Why

Shares of Arhaus, Inc. (NASDAQ:ARHS) shot up 4% during trading on Friday . The stock traded as high as $7.09 and last traded at $7.34. 722,515 shares were traded during mid-day trading, a decline of 53% from the average session volume of 1,527,266 shares. The stock had previously closed at $7.06.

Analyst Ratings Changes

Several research firms have issued reports on ARHS. Piper Sandler cut shares of Arhaus from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $15.00 to $12.00 in a research report on Thursday, February 27th. Stifel Nicolaus lowered their price target on Arhaus from $14.00 to $11.50 and set a “buy” rating for the company in a report on Monday, March 3rd. Robert W. Baird raised their price objective on Arhaus from $12.00 to $13.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Telsey Advisory Group reiterated an “outperform” rating and issued a $11.00 target price on shares of Arhaus in a report on Wednesday, February 26th. Finally, Jefferies Financial Group increased their price target on Arhaus from $9.50 to $10.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Arhaus currently has a consensus rating of “Hold” and a consensus target price of $11.59.

Arhaus Stock Up 9.8 %

The business has a 50 day moving average of $10.48 and a two-hundred day moving average of $10.35. The stock has a market capitalization of $1.09 billion, a PE ratio of 13.84, a PEG ratio of 11.57 and a beta of 2.64. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 1.23.

Institutional Trading of Arhaus

Several hedge funds have recently modified their holdings of 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 acquiring an additional 134,312 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Arhaus in the third quarter worth $814,000. JPMorgan Chase & Co. increased its position in shares of Arhaus by 1,808.2% during the third quarter. JPMorgan Chase & Co. now owns 1,962,232 shares of the company’s stock worth $24,155,000 after purchasing an additional 1,859,398 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Arhaus by 19.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 426,575 shares of the company’s stock valued at $5,251,000 after purchasing an additional 69,853 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Arhaus by 41.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 537,296 shares of the company’s stock worth $5,051,000 after purchasing an additional 157,515 shares in the last quarter. 27.88% of the stock is owned by hedge funds and other institutional investors.

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.