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

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

Analyst Ratings Changes

A number of research firms have recently issued reports on LAW. JPMorgan Chase & Co. assumed coverage on shares of CS Disco in a research note on Monday, March 25th. They issued a “neutral” rating and a $9.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $15.00 price objective on shares of CS Disco in a report on Wednesday, April 10th. Finally, Piper Sandler lifted their price objective on shares of CS Disco from $6.50 to $7.50 and gave the company a “neutral” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $10.31.

Insiders Place Their Bets

In other news, CFO Michael Lafair sold 8,614 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $6.82, for a total value of $58,747.48. Following the sale, the chief financial officer now directly owns 826,345 shares of the company’s stock, valued at approximately $5,635,672.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LAW. Nisa Investment Advisors LLC purchased a new stake in shares of CS Disco during the 4th quarter worth approximately $27,000. Ensign Peak Advisors Inc purchased a new stake in CS Disco in the 3rd quarter valued at $32,000. Quantbot Technologies LP purchased a new stake in CS Disco in the 1st quarter valued at $33,000. State of Wyoming purchased a new stake in CS Disco in the 2nd quarter valued at $35,000. Finally, Barclays PLC raised its position in CS Disco by 67.6% in the 4th quarter. Barclays PLC now owns 6,054 shares of the company’s stock valued at $38,000 after purchasing an additional 2,442 shares during the last quarter. Institutional investors and hedge funds own 58.05% of the company’s stock.

CS Disco Trading Down 0.3 %

NYSE LAW traded down $0.02 on Wednesday, hitting $7.71. 296,068 shares of the stock were exchanged, compared to its average volume of 202,428. CS Disco has a fifty-two week low of $5.07 and a fifty-two week high of $10.77. The company has a 50-day moving average price of $7.58 and a 200-day moving average price of $7.09.

CS Disco (NYSE:LAW) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.11. CS Disco had a negative net margin of 30.52% and a negative return on equity of 19.09%. The company had revenue of $35.74 million during the quarter, compared to analysts’ expectations of $34.94 million. As a group, research analysts expect that CS Disco will post -0.78 EPS for the current fiscal year.

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.