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

CS Disco, Inc. (NYSE:LAW) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 609,900 shares, a decline of 20.2% from the October 15th total of 763,900 shares. Based on an average daily trading volume, of 123,200 shares, the days-to-cover ratio is presently 5.0 days. Approximately 2.8% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LAW shares. Jefferies Financial Group increased their target price on shares of CS Disco from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Needham & Company LLC reiterated a “buy” rating and issued a $8.00 target price on shares of CS Disco in a research note on Thursday, November 7th.

Institutional Trading of CS Disco

Several institutional investors and hedge funds have recently bought and sold shares of LAW. nVerses Capital LLC bought a new position in CS Disco during the second quarter worth about $36,000. Meeder Asset Management Inc. acquired a new stake in shares of CS Disco in the second quarter valued at approximately $37,000. Allspring Global Investments Holdings LLC bought a new position in shares of CS Disco during the 1st quarter worth approximately $52,000. State Board of Administration of Florida Retirement System acquired a new position in shares of CS Disco during the 1st quarter worth approximately $83,000. Finally, Bleakley Financial Group LLC bought a new stake in CS Disco in the 3rd quarter valued at $67,000. Institutional investors own 58.05% of the company’s stock.

CS Disco Price Performance

CS Disco stock opened at $5.68 on Friday. The company’s 50 day simple moving average is $5.84 and its 200 day simple moving average is $5.92. The firm has a market capitalization of $340.29 million, a price-to-earnings ratio of -9.47 and a beta of 2.07. CS Disco has a fifty-two week low of $4.71 and a fifty-two week high of $8.80.

CS Disco (NYSE:LAW) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). CS Disco had a negative net margin of 25.36% and a negative return on equity of 19.20%. The company had revenue of $36.27 million during the quarter, compared to the consensus estimate of $36.33 million. During the same period in the previous year, the firm posted ($0.02) EPS. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, analysts predict that CS Disco will post -0.69 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.