CS Disco, Inc. (NYSE:LAW) Short Interest Update

CS Disco, Inc. (NYSE:LAW) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,140,000 shares, an increase of 6.5% from the August 15th total of 1,070,000 shares. Currently, 5.1% of the shares of the company are short sold. Based on an average daily volume of 189,800 shares, the days-to-cover ratio is currently 6.0 days.

Insider Activity at CS Disco

In other CS Disco news, Director Scott A. Hill purchased 23,554 shares of CS Disco stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $5.39 per share, for a total transaction of $126,956.06. Following the transaction, the director now directly owns 187,615 shares in the company, valued at $1,011,244.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.30% of the stock is owned by insiders.

Hedge Funds Weigh In On CS Disco

Institutional investors and hedge funds have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new position in shares of CS Disco during the 2nd quarter worth $36,000. Meeder Asset Management Inc. acquired a new stake in CS Disco in the 2nd quarter valued at about $37,000. Allspring Global Investments Holdings LLC acquired a new stake in CS Disco in the 1st quarter valued at about $52,000. State Board of Administration of Florida Retirement System acquired a new stake in CS Disco in the 1st quarter valued at about $83,000. Finally, The Manufacturers Life Insurance Company grew its stake in CS Disco by 27.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,498 shares of the company’s stock valued at $80,000 after acquiring an additional 2,871 shares during the last quarter. 58.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of CS Disco from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $8.00 to $5.00 in a research report on Tuesday, July 2nd. Needham & Company LLC cut their price objective on shares of CS Disco from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

CS Disco Stock Up 1.2 %

NYSE:LAW opened at $5.81 on Thursday. 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 $348.46 million, a PE ratio of -10.76 and a beta of 2.08. The firm’s fifty day simple moving average is $5.54 and its 200-day simple moving average is $6.41.

CS Disco (NYSE:LAW) last posted 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. CS Disco had a negative net margin of 19.88% and a negative return on equity of 14.18%. The business had revenue of $36.01 million for the quarter, compared to analysts’ expectations of $35.52 million. Equities analysts anticipate that CS Disco will post -0.71 earnings per share for the current year.

About CS Disco

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.