Arhaus, Inc. (NASDAQ:ARHS – Get Rating) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 913,400 shares, an increase of 58.3% from the March 15th total of 576,900 shares. Approximately 4.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 391,100 shares, the short-interest ratio is currently 2.3 days.
A number of institutional investors and hedge funds have recently modified their holdings of ARHS. FS Capital Partners VI LLC purchased a new stake in Arhaus in the fourth quarter worth approximately $404,445,000. Artemis Investment Management LLP purchased a new stake in Arhaus in the fourth quarter worth approximately $16,026,000. Goldman Sachs Group Inc. purchased a new stake in Arhaus in the fourth quarter worth approximately $13,127,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Arhaus in the fourth quarter worth approximately $11,499,000. Finally, Emerald Advisers LLC purchased a new stake in Arhaus in the fourth quarter worth approximately $11,169,000. 88.24% of the stock is owned by institutional investors and hedge funds.
ARHS stock opened at $7.71 on Friday. The stock has a 50 day moving average of $7.50. Arhaus has a 1-year low of $6.17 and a 1-year high of $14.95.
ARHS has been the topic of several analyst reports. Guggenheim decreased their price target on Arhaus from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, April 5th. Zacks Investment Research cut Arhaus from a “hold” rating to a “sell” rating in a research report on Monday, March 28th. Telsey Advisory Group upped their price target on Arhaus from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, March 31st. Finally, Jefferies Financial Group set a $17.00 price target on Arhaus in a research report on Tuesday, January 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Arhaus has an average rating of “Buy” and a consensus target price of $13.69.
About Arhaus (Get Rating)
Arhaus, Inc provides merchandise assortments across various categories, including furniture, lighting, textiles, dÃ©cor, and outdoor furniture product that includes bedroom, dining room, living room, home office furnishings, textile products consist of handcrafted indoor and outdoor rugs, bed linens, and pillows and throws dÃ©cor products include wall art, mirrors, vases, candles, and other decorative accessories and outdoor products comprise outdoor dining tables, chairs, chaises and other furniture, lighting, textiles, dÃ©cor, umbrellas, and fire pits.
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