CS Disco, Inc. (NYSE:LAW) Short Interest Down 18.6% in September

CS Disco, Inc. (NYSE:LAW) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 927,600 shares, a decrease of 18.6% from the August 31st total of 1,140,000 shares. Approximately 4.2% of the shares of the company are short sold. Based on an average trading volume of 185,400 shares, the short-interest ratio is presently 5.0 days.

Insider Buying and Selling at CS Disco

In other CS Disco news, Director Scott A. Hill acquired 23,554 shares of the company’s stock in a transaction dated 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 completion of the purchase, the director now owns 187,615 shares of the company’s stock, valued at approximately $1,011,244.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On CS Disco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Berylson Capital Partners LLC increased its stake in shares of CS Disco by 424.2% in the 4th quarter. Berylson Capital Partners LLC now owns 282,569 shares of the company’s stock valued at $2,145,000 after acquiring an additional 228,669 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in CS Disco in the first quarter worth $52,000. State Board of Administration of Florida Retirement System bought a new position in shares of CS Disco during the first quarter worth $83,000. Norges Bank acquired a new position in shares of CS Disco in the 4th quarter valued at $13,467,000. Finally, nVerses Capital LLC bought a new stake in shares of CS Disco in the 2nd quarter valued at $36,000. Institutional investors own 58.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on LAW. JPMorgan Chase & Co. cut shares of CS Disco from a “neutral” rating to an “underweight” rating and cut their target price for the company from $8.00 to $5.00 in a research note on Tuesday, July 2nd. Needham & Company LLC decreased their target price on CS Disco from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

CS Disco Stock Performance

NYSE LAW remained flat at $5.80 on Friday. 78,843 shares of the company traded hands, compared to its average volume of 233,118. CS Disco has a 1-year low of $4.71 and a 1-year high of $8.80. The firm’s fifty day simple moving average is $5.59 and its 200 day simple moving average is $6.36. The company has a market cap of $347.86 million, a P/E ratio of -10.74 and a beta of 2.08.

CS Disco (NYSE:LAW) last issued 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 for the quarter, compared to analyst estimates of $35.52 million. On average, analysts expect that CS Disco will post -0.71 EPS for the current fiscal year.

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.