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

CS Disco, Inc. (NYSE:LAW) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 801,700 shares, a decline of 13.6% from the September 15th total of 927,600 shares. Based on an average daily volume of 147,100 shares, the short-interest ratio is presently 5.5 days. Approximately 3.7% of the shares of the company are sold short.

CS Disco Trading Down 0.5 %

Shares of NYSE LAW traded down $0.03 during midday trading on Wednesday, hitting $5.99. 85,150 shares of the company’s stock were exchanged, compared to its average volume of 223,365. CS Disco has a 12-month low of $4.71 and a 12-month high of $8.80. The company has a market cap of $359.26 million, a price-to-earnings ratio of -11.09 and a beta of 2.09. The business’s fifty day moving average price is $5.62 and its two-hundred day moving average price is $6.20.

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

Insider Transactions at CS Disco

In other news, Director Scott A. Hill acquired 23,554 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $5.39 per share, for a total transaction of $126,956.06. Following the purchase, the director now owns 187,615 shares of the company’s stock, valued at approximately $1,011,244.85. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.30% of the company’s stock.

Institutional Trading of CS Disco

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in CS Disco by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 2,031,257 shares of the company’s stock worth $16,514,000 after buying an additional 82,549 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in CS Disco by 34.4% in the second quarter. Dimensional Fund Advisors LP now owns 666,437 shares of the company’s stock valued at $3,972,000 after purchasing an additional 170,496 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of CS Disco by 188.9% during the second quarter. Renaissance Technologies LLC now owns 145,600 shares of the company’s stock valued at $868,000 after acquiring an additional 95,200 shares in the last quarter. Algert Global LLC raised its holdings in shares of CS Disco by 35.4% during the second quarter. Algert Global LLC now owns 100,587 shares of the company’s stock valued at $599,000 after acquiring an additional 26,293 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of CS Disco by 13.5% during the first quarter. Swiss National Bank now owns 53,800 shares of the company’s stock valued at $437,000 after acquiring an additional 6,400 shares in the last quarter. Institutional investors own 58.05% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.