CS Disco, Inc. (NYSE:LAW) Short Interest Update

CS Disco, Inc. (NYSE:LAW) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 769,087 shares, an increase of 20.9% from the December 31st total of 636,046 shares. Based on an average trading volume of 143,585 shares, the short-interest ratio is presently 5.4 days. Approximately 1.5% of the company’s shares are short sold. Approximately 1.5% of the company’s shares are short sold. Based on an average trading volume of 143,585 shares, the short-interest ratio is presently 5.4 days.

Institutional Trading of CS Disco

Several hedge funds have recently made changes to their positions in LAW. Topline Capital Management LLC raised its position in CS Disco by 8.1% during the third quarter. Topline Capital Management LLC now owns 3,206,003 shares of the company’s stock valued at $20,711,000 after purchasing an additional 240,735 shares in the last quarter. Vanguard Group Inc. boosted its stake in CS Disco by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,959,087 shares of the company’s stock valued at $12,656,000 after purchasing an additional 33,672 shares during the last quarter. Formula Growth Ltd. grew its stake in shares of CS Disco by 3.8% in the second quarter. Formula Growth Ltd. now owns 830,000 shares of the company’s stock worth $3,627,000 after acquiring an additional 30,000 shares during the period. Norges Bank purchased a new position in CS Disco in the second quarter worth about $2,863,000. Finally, Essex Investment Management Co. LLC bought a new stake in CS Disco during the third quarter valued at about $2,868,000. 58.05% of the stock is currently owned by institutional investors.

CS Disco Price Performance

Shares of CS Disco stock traded down $0.50 during trading on Wednesday, hitting $5.17. 483,130 shares of the company were exchanged, compared to its average volume of 191,238. The firm’s fifty day moving average price is $7.41 and its 200 day moving average price is $6.34. The firm has a market capitalization of $322.76 million, a P/E ratio of -5.11 and a beta of 2.08. CS Disco has a 1-year low of $3.31 and a 1-year high of $9.11.

CS Disco (NYSE:LAW) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. CS Disco had a negative return on equity of 26.05% and a negative net margin of 40.00%.The business had revenue of $40.92 million during the quarter, compared to analysts’ expectations of $38.52 million. As a group, equities research analysts anticipate that CS Disco will post -0.64 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LAW shares. Jefferies Financial Group raised their price target on shares of CS Disco from $6.00 to $8.00 and gave the company a “hold” rating in a report on Monday, January 5th. Needham & Company LLC increased their price objective on shares of CS Disco from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Wall Street Zen raised CS Disco from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of CS Disco in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.00.

About CS Disco

CS Disco, Inc is a provider of cloud-native, artificial intelligence-driven legal applications designed to streamline e-discovery, document review and compliance processes for law firms and corporate legal departments. The Austin, Texas–based company offers a unified platform that automates labor-intensive tasks using machine learning and predictive analytics, enabling legal professionals to process, search and review large volumes of data with greater speed and accuracy.

At the core of CS Disco’s product suite is its flagship e-discovery application, which supports early case assessment, data processing, review analytics and production workflows.