Arhaus (NASDAQ:ARHS) Shares Down 16.8% – Here’s What Happened

Arhaus, Inc. (NASDAQ:ARHS)’s stock price traded down 16.8% on Thursday . The stock traded as low as $7.52 and last traded at $7.34. 246,809 shares were traded during trading, a decline of 84% from the average session volume of 1,515,272 shares. The stock had previously closed at $8.82.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Piper Sandler cut shares of Arhaus from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $15.00 to $12.00 in a research report on Thursday, February 27th. Stifel Nicolaus cut their price objective on Arhaus from $14.00 to $11.50 and set a “buy” rating for the company in a research report on Monday, March 3rd. Jefferies Financial Group increased their target price on Arhaus from $9.50 to $10.00 and gave the company a “hold” rating in a report on Friday, January 10th. Robert W. Baird raised their price target on Arhaus from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Finally, Loop Capital initiated coverage on Arhaus in a research report on Friday, January 24th. They issued a “hold” rating and a $12.00 price objective on the stock. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.59.

Arhaus Price Performance

The company has a 50-day moving average of $10.48 and a two-hundred day moving average of $10.37. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.23 and a quick ratio of 0.52. The stock has a market capitalization of $1.09 billion, a PE ratio of 13.84, a P/E/G ratio of 11.57 and a beta of 2.68.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in Arhaus by 1,532.9% in 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 purchasing an additional 2,672,239 shares during the period. JPMorgan Chase & Co. grew its stake 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 buying an additional 1,859,398 shares during the period. Barclays PLC increased its holdings in shares of Arhaus by 108.6% during the 4th quarter. Barclays PLC now owns 110,447 shares of the company’s stock worth $1,038,000 after buying an additional 1,391,342 shares during the last quarter. Long Focus Capital Management LLC purchased a new position in shares of Arhaus in the 4th quarter worth $10,575,000. Finally, Jane Street Group LLC boosted its holdings in Arhaus by 808.3% in the fourth quarter. Jane Street Group LLC now owns 899,693 shares of the company’s stock valued at $8,457,000 after acquiring 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.