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

CS Disco, Inc. (NYSE:LAW) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 887,500 shares, an increase of 8.8% from the March 15th total of 815,500 shares. Currently, 3.7% of the company’s stock are short sold. Based on an average daily volume of 199,400 shares, the short-interest ratio is presently 4.5 days.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of CS Disco in a report on Wednesday, April 10th. Piper Sandler increased their price target on CS Disco from $6.50 to $7.50 and gave the company a “neutral” rating in a report on Friday, February 23rd. Finally, JPMorgan Chase & Co. assumed coverage on CS Disco in a report on Monday, March 25th. They set a “neutral” rating and a $9.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $10.31.

CS Disco Trading Down 2.2 %

CS Disco stock traded down $0.17 during trading on Monday, reaching $7.74. The company had a trading volume of 260,998 shares, compared to its average volume of 200,139. CS Disco has a 52 week low of $5.07 and a 52 week high of $10.77. The firm’s 50-day simple moving average is $7.59 and its 200 day simple moving average is $7.08. The firm has a market capitalization of $472.30 million, a price-to-earnings ratio of -10.89 and a beta of 2.26.

CS Disco (NYSE:LAW) last announced its earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.11. CS Disco had a negative return on equity of 19.09% and a negative net margin of 30.52%. The company had revenue of $35.74 million for the quarter, compared to analysts’ expectations of $34.94 million. On average, analysts predict that CS Disco will post -0.78 earnings per share for the current year.

Insider Buying and Selling at CS Disco

In other CS Disco news, CFO Michael Lafair sold 8,614 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $6.82, for a total transaction of $58,747.48. Following the sale, the chief financial officer now directly owns 826,345 shares in the company, valued at approximately $5,635,672.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On CS Disco

A number of institutional investors have recently bought and sold shares of LAW. JPMorgan Chase & Co. increased its stake in CS Disco by 251.2% in the 1st quarter. JPMorgan Chase & Co. now owns 30,483 shares of the company’s stock worth $1,035,000 after buying an additional 21,804 shares in the last quarter. Bank of New York Mellon Corp increased its stake in CS Disco by 804.8% in the 1st quarter. Bank of New York Mellon Corp now owns 391,928 shares of the company’s stock worth $13,314,000 after buying an additional 348,613 shares in the last quarter. MetLife Investment Management LLC increased its stake in CS Disco by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 7,729 shares of the company’s stock worth $263,000 after buying an additional 2,806 shares in the last quarter. Rhumbline Advisers increased its stake in CS Disco by 54.6% in the 1st quarter. Rhumbline Advisers now owns 15,648 shares of the company’s stock worth $532,000 after buying an additional 5,529 shares in the last quarter. Finally, BlackRock Inc. increased its stake in CS Disco by 17.2% in the 1st quarter. BlackRock Inc. now owns 2,266,047 shares of the company’s stock worth $76,978,000 after buying an additional 332,076 shares in the last quarter. 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.