CS Disco, Inc. (NYSE:LAW – Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 1,150,000 shares, a growth of 26.4% from the June 30th total of 909,500 shares. Based on an average daily trading volume, of 319,600 shares, the short-interest ratio is presently 3.6 days. Approximately 5.1% of the company’s shares are short sold.
Hedge Funds Weigh In On CS Disco
A number of large investors have recently bought and sold shares of LAW. Nisa Investment Advisors LLC acquired a new position in shares of CS Disco during the fourth quarter worth $27,000. Tower Research Capital LLC TRC increased its position in shares of CS Disco by 42.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,020 shares of the company’s stock worth $46,000 after purchasing an additional 1,802 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of CS Disco during the first quarter worth $52,000. State Board of Administration of Florida Retirement System acquired a new position in shares of CS Disco during the first quarter worth $83,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CS Disco by 29.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,778 shares of the company’s stock worth $120,000 after purchasing an additional 3,600 shares in the last quarter. Institutional investors own 58.05% of the company’s stock.
CS Disco Stock Performance
NYSE:LAW traded up $0.17 during trading hours on Friday, reaching $6.14. The company’s stock had a trading volume of 137,983 shares, compared to its average volume of 235,185. CS Disco has a 12 month low of $4.92 and a 12 month high of $10.77. The stock has a 50 day moving average price of $5.80 and a two-hundred day moving average price of $7.03.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on LAW. JPMorgan Chase & Co. lowered CS Disco from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $8.00 to $5.00 in a report on Tuesday, July 2nd. Needham & Company LLC lowered their price target on CS Disco from $15.00 to $11.00 and set a “buy” rating for the company in a report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.31.
Check Out Our Latest Analysis on CS Disco
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.
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