CS Disco, Inc. (NYSE:LAW) Short Interest Up 8.8% in March

CS Disco, Inc. (NYSE:LAW) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 887,500 shares, an increase of 8.8% from the March 15th total of 815,500 shares. Based on an average daily trading volume, of 199,400 shares, the short-interest ratio is presently 4.5 days. Approximately 3.7% of the shares of the company are short sold.

Analyst Ratings Changes

LAW has been the subject of several recent research reports. Piper Sandler upped their price target on CS Disco from $6.50 to $7.50 and gave the company a “neutral” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. began coverage on shares of CS Disco in a research note on Monday, March 25th. They issued a “neutral” rating and a $9.00 target price on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of CS Disco in a research note on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.31.

Insider Buying and Selling

In related news, CFO Michael Lafair sold 8,614 shares of CS Disco stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $6.82, for a total value of $58,747.48. Following the transaction, the chief financial officer now owns 826,345 shares in the company, valued at approximately $5,635,672.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.30% of the stock is owned by insiders.

Hedge Funds Weigh In On CS Disco

Several institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC bought a new position in CS Disco during the 4th quarter worth approximately $27,000. Ensign Peak Advisors Inc bought a new stake in shares of CS Disco in the 3rd quarter valued at $32,000. Quantbot Technologies LP acquired a new stake in CS Disco during the 1st quarter worth $33,000. State of Wyoming bought a new position in CS Disco during the second quarter worth about $35,000. Finally, Barclays PLC grew its stake in CS Disco by 67.6% in the fourth quarter. Barclays PLC now owns 6,054 shares of the company’s stock valued at $38,000 after acquiring an additional 2,442 shares during the period. 58.05% of the stock is currently owned by institutional investors and hedge funds.

CS Disco Stock Down 0.3 %

Shares of NYSE LAW traded down $0.02 during mid-day trading on Wednesday, hitting $7.71. The company’s stock had a trading volume of 296,068 shares, compared to its average volume of 202,428. CS Disco has a one year low of $5.07 and a one year high of $10.77. The company’s fifty day simple moving average is $7.58 and its 200-day simple moving average is $7.09.

CS Disco (NYSE:LAW) last released its earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.11. The firm had revenue of $35.74 million during the quarter, compared to analyst estimates of $34.94 million. CS Disco had a negative net margin of 30.52% and a negative return on equity of 19.09%. Equities analysts expect that CS Disco will post -0.78 EPS 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.