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

CS Disco, Inc. (NYSE:LAW) was the recipient of a large increase in short interest in 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. Approximately 3.7% of the company’s stock are sold short. Based on an average trading volume of 199,400 shares, the days-to-cover ratio is presently 4.5 days.

CS Disco Stock Down 0.3 %

Shares of LAW traded down $0.02 during midday trading on Wednesday, reaching $7.71. 296,068 shares of the stock were exchanged, compared to its average volume of 202,428. CS Disco has a 12-month low of $5.07 and a 12-month high of $10.77. The firm has a 50 day simple moving average of $7.58 and a 200-day simple moving average of $7.09.

CS Disco (NYSE:LAW) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share 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 during the quarter, compared to the consensus estimate of $34.94 million. Equities research analysts forecast that CS Disco will post -0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other CS Disco news, CFO Michael Lafair sold 8,614 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $6.82, for a total value of $58,747.48. Following the completion of the transaction, the chief financial officer now owns 826,345 shares in the company, valued at approximately $5,635,672.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 22.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its stake in shares of CS Disco by 104.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 1,212 shares of the company’s stock valued at $41,000 after acquiring an additional 619 shares in the last quarter. Quantbot Technologies LP increased its position in CS Disco by 96.5% in the 2nd quarter. Quantbot Technologies LP now owns 1,934 shares of the company’s stock worth $34,000 after buying an additional 950 shares during the period. Point72 Hong Kong Ltd bought a new position in CS Disco in the 1st quarter worth approximately $39,000. Tower Research Capital LLC TRC increased its position in CS Disco by 42.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,020 shares of the company’s stock worth $46,000 after buying an additional 1,802 shares during the period. Finally, Venturi Wealth Management LLC increased its position in CS Disco by 45.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 7,260 shares of the company’s stock worth $48,000 after buying an additional 2,260 shares during the period. 58.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LAW shares. JPMorgan Chase & Co. started 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. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of CS Disco in a research note on Wednesday, April 10th. Finally, Piper Sandler increased their price target on CS Disco from $6.50 to $7.50 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, CS Disco presently has a consensus rating of “Hold” and a consensus target price of $10.31.

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.