CS Disco, Inc. (NYSE:LAW) Sees Large Decrease in Short Interest

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

CS Disco Stock Down 0.5 %

LAW traded down $0.03 during trading hours on Wednesday, reaching $5.99. 85,150 shares of the company’s stock traded hands, compared to its average volume of 223,365. The firm has a 50-day moving average price of $5.61 and a 200 day moving average price of $6.20. CS Disco has a 52-week low of $4.71 and a 52-week high of $8.80. The firm has a market capitalization of $359.26 million, a PE ratio of -11.09 and a beta of 2.09.

CS Disco (NYSE:LAW) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The firm had revenue of $36.01 million for the quarter, compared to analysts’ expectations of $35.52 million. CS Disco had a negative net margin of 19.88% and a negative return on equity of 14.18%. Equities analysts predict that CS Disco will post -0.71 EPS for the current fiscal year.

Insider Buying and Selling

In other CS Disco news, Director Scott A. Hill purchased 23,554 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $5.39 per share, with a total value of $126,956.06. Following the acquisition, the director now owns 187,615 shares in the company, valued at approximately $1,011,244.85. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 22.30% of the stock is currently owned by company insiders.

Institutional Trading of CS Disco

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in CS Disco by 34.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 666,437 shares of the company’s stock worth $3,972,000 after acquiring an additional 170,496 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of CS Disco by 188.9% in the 2nd quarter. Renaissance Technologies LLC now owns 145,600 shares of the company’s stock worth $868,000 after purchasing an additional 95,200 shares during the period. Vanguard Group Inc. boosted its stake 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 valued at $16,514,000 after purchasing an additional 82,549 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in CS Disco during the first quarter valued at approximately $220,000. Finally, Algert Global LLC raised its stake in CS Disco by 35.4% in the second quarter. Algert Global LLC now owns 100,587 shares of the company’s stock worth $599,000 after buying an additional 26,293 shares in the last quarter. Institutional investors own 58.05% of the company’s stock.

Analyst Ratings Changes

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

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.