Arhaus (NASDAQ:ARHS) Trading Down 2.6% – Here’s What Happened

Arhaus, Inc. (NASDAQ:ARHS)’s share price traded down 2.6% during mid-day trading on Thursday . The stock traded as low as $9.31 and last traded at $9.32. 375,701 shares were traded during trading, a decline of 71% from the average session volume of 1,276,128 shares. The stock had previously closed at $9.57.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Bank of America downgraded shares of Arhaus from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $15.00 to $11.00 in a research report on Thursday, November 7th. Craig Hallum lowered shares of Arhaus from a “buy” rating to a “hold” rating and dropped their target price for the stock from $14.00 to $10.00 in a research report on Tuesday, October 15th. Wedbush decreased their price target on shares of Arhaus from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Stifel Nicolaus cut their price objective on shares of Arhaus from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $12.00 price objective on shares of Arhaus in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.90.

Arhaus Trading Down 2.7 %

The company’s fifty day moving average price is $9.67 and its two-hundred day moving average price is $12.42. The company has a quick ratio of 0.52, a current ratio of 1.23 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 14.78 and a beta of 2.58.

Arhaus (NASDAQ:ARHS) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Arhaus had a return on equity of 24.92% and a net margin of 6.18%. The business had revenue of $319.13 million during the quarter, compared to analyst estimates of $328.94 million. During the same period in the prior year, the firm posted $0.14 EPS. Arhaus’s revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts expect that Arhaus, Inc. will post 0.42 earnings per share for the current year.

Institutional Trading of Arhaus

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. acquired a new stake in shares of Arhaus in the 3rd quarter valued at $814,000. Geode Capital Management LLC increased its position in Arhaus by 12.5% in the third quarter. Geode Capital Management LLC now owns 1,207,981 shares of the company’s stock worth $14,874,000 after purchasing an additional 134,312 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Arhaus during the 3rd quarter worth about $236,000. Wellington Management Group LLP lifted its position in Arhaus by 107.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,231,556 shares of the company’s stock valued at $15,160,000 after purchasing an additional 636,691 shares during the period. Finally, State Street Corp boosted its stake in shares of Arhaus by 14.5% in the 3rd quarter. State Street Corp now owns 930,023 shares of the company’s stock valued at $11,449,000 after purchasing an additional 117,422 shares during the last quarter. Institutional investors and hedge funds 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.