CS Disco, Inc. (NYSE:LAW) Short Interest Down 13.6% in September

CS Disco, Inc. (NYSE:LAW) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 801,700 shares, a decrease of 13.6% from the September 15th total of 927,600 shares. Approximately 3.7% of the company’s stock are sold short. Based on an average trading volume of 147,100 shares, the short-interest ratio is currently 5.5 days.

Analyst Upgrades and Downgrades

LAW has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded CS Disco from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $8.00 to $5.00 in a report on Tuesday, July 2nd. Needham & Company LLC dropped their target price on shares of CS Disco from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

CS Disco Stock Down 0.5 %

NYSE:LAW traded down $0.03 on Wednesday, hitting $5.99. The stock had a trading volume of 85,150 shares, compared to its average volume of 223,365. The business’s 50-day simple moving average is $5.61 and its two-hundred day simple moving average is $6.20. The stock has a market cap of $359.26 million, a price-to-earnings ratio of -11.09 and a beta of 2.09. CS Disco has a 52-week low of $4.71 and a 52-week high of $8.80.

CS Disco (NYSE:LAW) last announced its earnings results on Thursday, August 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $36.01 million during the quarter, compared to analyst estimates of $35.52 million. As a group, equities research analysts anticipate that CS Disco will post -0.71 EPS for the current year.

Insider Transactions at CS Disco

In other news, Director Scott A. Hill bought 23,554 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of $5.39 per share, with a total value of $126,956.06. Following the completion of the acquisition, the director now owns 187,615 shares of the company’s stock, valued at approximately $1,011,244.85. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On CS Disco

Institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of CS Disco during the 1st quarter valued at $52,000. Swiss National Bank lifted its position in shares of CS Disco by 13.5% in 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. State Board of Administration of Florida Retirement System bought a new position in shares of CS Disco in the first quarter worth about $83,000. Vanguard Group Inc. grew its position in shares of CS Disco by 4.2% during the first quarter. Vanguard Group Inc. now owns 2,031,257 shares of the company’s stock worth $16,514,000 after purchasing an additional 82,549 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in CS Disco in the 1st quarter worth approximately $220,000. 58.05% of the stock is owned by institutional investors.

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.