CS Disco, Inc. (NYSE:LAW) Short Interest Down 18.6% in September

CS Disco, Inc. (NYSE:LAW) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 927,600 shares, a decrease of 18.6% from the August 31st total of 1,140,000 shares. Based on an average daily volume of 185,400 shares, the short-interest ratio is presently 5.0 days. Currently, 4.2% of the company’s stock are short sold.

CS Disco Price Performance

Shares of NYSE LAW remained flat at $5.80 during trading hours on Friday. The stock had a trading volume of 78,843 shares, compared to its average volume of 233,118. The stock has a market capitalization of $347.86 million, a PE ratio of -10.74 and a beta of 2.08. CS Disco has a 12 month low of $4.71 and a 12 month high of $8.80. The firm’s fifty day moving average price is $5.59 and its 200 day moving average price is $6.36.

CS Disco (NYSE:LAW) last issued its earnings results on Thursday, August 8th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. The company had revenue of $36.01 million for the quarter, compared to analysts’ expectations of $35.52 million. CS Disco had a negative net margin of 19.88% and a negative return on equity of 14.18%. Equities research analysts expect that CS Disco will post -0.71 EPS for the current year.

Analysts Set New Price Targets

LAW has been the subject of a number of analyst reports. Needham & Company LLC decreased their target price on shares of CS Disco from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. cut CS Disco from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $8.00 to $5.00 in a report on Tuesday, July 2nd.

Insider Buying and Selling

In other news, Director Scott A. Hill purchased 23,554 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $5.39 per share, with a total value of $126,956.06. Following the purchase, the director now directly owns 187,615 shares of the company’s stock, valued at approximately $1,011,244.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On CS Disco

A number of large investors have recently added to or reduced their stakes in the business. Algert Global LLC grew its stake in CS Disco by 35.4% in the 2nd quarter. Algert Global LLC now owns 100,587 shares of the company’s stock valued at $599,000 after buying an additional 26,293 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of CS Disco by 27.0% in the second quarter. The Manufacturers Life Insurance Company now owns 13,498 shares of the company’s stock valued at $80,000 after purchasing an additional 2,871 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of CS Disco by 188.9% during the second quarter. Renaissance Technologies LLC now owns 145,600 shares of the company’s stock worth $868,000 after purchasing an additional 95,200 shares during the period. Dimensional Fund Advisors LP lifted its holdings in CS Disco by 34.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 666,437 shares of the company’s stock worth $3,972,000 after purchasing an additional 170,496 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in CS Disco in the 2nd quarter valued at $37,000. Institutional investors own 58.05% of the company’s stock.

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.