CS Disco, Inc. (NYSE:LAW) Short Interest Up 25.0% in February

CS Disco, Inc. (NYSE:LAW) was the target of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 1,051,263 shares, an increase of 25.0% from the February 12th total of 841,219 shares. Based on an average daily volume of 847,249 shares, the days-to-cover ratio is currently 1.2 days. Currently, 2.0% of the shares of the stock are sold short. Currently, 2.0% of the shares of the stock are sold short. Based on an average daily volume of 847,249 shares, the days-to-cover ratio is currently 1.2 days.

CS Disco Stock Performance

Shares of LAW stock traded down $0.05 during trading hours on Tuesday, reaching $4.41. The company had a trading volume of 293,419 shares, compared to its average volume of 436,844. The company has a market capitalization of $279.48 million, a P/E ratio of -6.13 and a beta of 2.16. CS Disco has a twelve month low of $2.45 and a twelve month high of $9.11. The stock’s fifty day simple moving average is $5.05 and its 200 day simple moving average is $6.20.

Insider Buying and Selling at CS Disco

In other news, Director Krishna Srinivasan bought 40,000 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were bought at an average cost of $3.25 per share, for a total transaction of $130,000.00. Following the completion of the transaction, the director owned 45,000 shares in the company, valued at $146,250. This trade represents a 800.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Melanie Antoon sold 9,289 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $3.07, for a total value of $28,517.23. Following the completion of the sale, the executive vice president directly owned 203,421 shares in the company, valued at $624,502.47. This trade represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders acquired 1,090,200 shares of company stock worth $3,475,943 and sold 27,711 shares worth $85,073. Company insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On CS Disco

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Topline Capital Management LLC raised its stake in CS Disco by 66.2% during the second quarter. Topline Capital Management LLC now owns 2,965,268 shares of the company’s stock worth $12,958,000 after acquiring an additional 1,181,046 shares during the period. Norges Bank acquired a new position in CS Disco in the second quarter valued at approximately $2,863,000. Essex Investment Management Co. LLC acquired a new position in CS Disco in the third quarter valued at approximately $2,868,000. Nuveen LLC grew its holdings in shares of CS Disco by 187.2% during the fourth quarter. Nuveen LLC now owns 318,672 shares of the company’s stock valued at $2,473,000 after purchasing an additional 207,700 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of CS Disco by 100.6% during the fourth quarter. First Eagle Investment Management LLC now owns 328,719 shares of the company’s stock valued at $2,551,000 after purchasing an additional 164,873 shares during the last quarter. 58.05% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of CS Disco in a report on Wednesday, January 21st. Wall Street Zen lowered shares of CS Disco from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of CS Disco in a research note on Thursday, February 26th. Jefferies Financial Group boosted their price objective on shares of CS Disco from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Monday, January 5th. Finally, Canaccord Genuity Group cut their target price on CS Disco from $9.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.00.

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.