CS Disco, Inc. (NYSE:LAW) Short Interest Up 6.5% in August

CS Disco, Inc. (NYSE:LAW) was the target of a large increase in short interest in 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 company’s stock are short sold. Based on an average trading volume of 189,800 shares, the days-to-cover ratio is presently 6.0 days.

Analyst Ratings Changes

Several analysts have recently weighed in on LAW shares. 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. JPMorgan Chase & Co. lowered CS Disco from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $8.00 to $5.00 in a research report on Tuesday, July 2nd.

Insider Transactions at CS Disco

In related news, Director Scott A. Hill acquired 23,554 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average price 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 in the company, valued at $1,011,244.85. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On CS Disco

Several hedge funds have recently modified their holdings of LAW. California State Teachers Retirement System increased its stake in CS Disco by 6.9% in the 1st quarter. California State Teachers Retirement System now owns 26,808 shares of the company’s stock valued at $218,000 after buying an additional 1,730 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of CS Disco by 27.0% in the second 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 in the last quarter. Rhumbline Advisers increased its stake in shares of CS Disco by 8.4% during the second quarter. Rhumbline Advisers now owns 38,105 shares of the company’s stock worth $227,000 after acquiring an additional 2,946 shares during the period. American Century Companies Inc. lifted its holdings in shares of CS Disco by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 32,180 shares of the company’s stock valued at $192,000 after buying an additional 4,632 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of CS Disco during the 2nd quarter valued at approximately $36,000. 58.05% of the stock is owned by institutional investors and hedge funds.

CS Disco Price Performance

Shares of NYSE:LAW traded up $0.03 on Tuesday, reaching $5.74. The company’s stock had a trading volume of 104,923 shares, compared to its average volume of 238,358. CS Disco has a 52-week low of $4.71 and a 52-week high of $8.80. The stock has a market capitalization of $344.26 million, a P/E ratio of -10.56 and a beta of 2.08. The stock’s 50-day moving average is $5.53 and its two-hundred day moving average is $6.41.

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