CS Disco, Inc. (NYSE:LAW) Sees Large Increase in Short Interest

CS Disco, Inc. (NYSE:LAW) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 1,140,000 shares, a growth of 6.5% from the August 15th total of 1,070,000 shares. Approximately 5.1% of the shares of the stock are short sold. Based on an average trading volume of 189,800 shares, the days-to-cover ratio is presently 6.0 days.

Insider Transactions at CS Disco

In other CS Disco news, Director Scott A. Hill bought 23,554 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were bought at an average price of $5.39 per share, for a total transaction of $126,956.06. Following the completion of the acquisition, the director now owns 187,615 shares of the company’s stock, valued at $1,011,244.85. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LAW. nVerses Capital LLC acquired a new position in shares of CS Disco during the 2nd quarter worth approximately $36,000. Meeder Asset Management Inc. bought a new stake in shares of CS Disco in the second quarter valued at approximately $37,000. Allspring Global Investments Holdings LLC acquired a new stake in CS Disco during the first quarter worth approximately $52,000. The Manufacturers Life Insurance Company increased its stake in CS Disco by 27.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,498 shares of the company’s stock worth $80,000 after acquiring an additional 2,871 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new position in CS Disco in the 1st quarter valued at $83,000. Institutional investors own 58.05% of the company’s stock.

CS Disco Trading Up 1.4 %

Shares of NYSE:LAW traded up $0.08 during trading on Wednesday, hitting $5.82. 111,487 shares of the company were exchanged, compared to its average volume of 237,653. CS Disco has a fifty-two week low of $4.71 and a fifty-two week high of $8.80. The stock has a market cap of $349.06 million, a price-to-earnings ratio of -10.78 and a beta of 2.08. The firm has a fifty day moving average price of $5.54 and a two-hundred day moving average price of $6.41.

CS Disco (NYSE:LAW) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The firm had revenue of $36.01 million for the quarter, compared to the consensus estimate of $35.52 million. CS Disco had a negative return on equity of 14.18% and a negative net margin of 19.88%. As a group, research analysts predict that CS Disco will post -0.71 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LAW. Needham & Company LLC reduced their price target on shares of CS Disco from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. lowered CS Disco from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $8.00 to $5.00 in a report on Tuesday, July 2nd.

CS Disco Company Profile

CS Disco, Inc provides cloud-native and artificial intelligence-powered legal solutions for legal hold, legal request, ediscovery, legal document review, and case management in the United States and internationally. It offers DISCO Request, a solution that automates response compliance for legal requests; and DISCO Ediscovery, a solution that automates the ediscovery process and saves legal departments from manual tasks associated with collecting, processing, enriching, searching, reviewing, analyzing, producing, and using enterprise data that is at issue in legal matters.