CS Disco, Inc. (NYSE:LAW) Short Interest Up 20.9% in January

CS Disco, Inc. (NYSE:LAW) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 769,087 shares, a growth of 20.9% from the December 31st total of 636,046 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 143,585 shares, the short-interest ratio is presently 5.4 days. Based on an average daily trading volume, of 143,585 shares, the short-interest ratio is presently 5.4 days. Currently, 1.5% of the company’s stock are sold short.

Institutional Trading of CS Disco

A number of hedge funds have recently made changes to their positions in LAW. Cubist Systematic Strategies LLC acquired a new position in shares of CS Disco during the 1st quarter worth approximately $216,000. Jane Street Group LLC increased its holdings in shares of CS Disco by 51.6% in the first quarter. Jane Street Group LLC now owns 44,628 shares of the company’s stock valued at $183,000 after purchasing an additional 15,187 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of CS Disco in the first quarter valued at about $195,000. Williams & Novak LLC raised its position in shares of CS Disco by 25.0% in the second quarter. Williams & Novak LLC now owns 22,025 shares of the company’s stock valued at $96,000 after purchasing an additional 4,405 shares during the period. Finally, R Squared Ltd lifted its stake in shares of CS Disco by 136.9% during the 2nd quarter. R Squared Ltd now owns 47,456 shares of the company’s stock worth $207,000 after buying an additional 27,423 shares during the last quarter. 58.05% of the stock is owned by institutional investors and hedge funds.

CS Disco Trading Down 8.8%

Shares of LAW opened at $5.16 on Thursday. The company’s fifty day simple moving average is $7.37 and its 200 day simple moving average is $6.33. CS Disco has a 1-year low of $3.31 and a 1-year high of $9.11. The company has a market cap of $322.45 million, a price-to-earnings ratio of -5.11 and a beta of 2.08.

CS Disco (NYSE:LAW) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05. The company had revenue of $40.92 million during the quarter, compared to the consensus estimate of $38.52 million. CS Disco had a negative net margin of 40.00% and a negative return on equity of 26.05%. As a group, research analysts forecast that CS Disco will post -0.64 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Needham & Company LLC lifted their target price on CS Disco from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Jefferies Financial Group lifted their price objective on shares of CS Disco from $6.00 to $8.00 and gave the company a “hold” rating in a report on Monday, January 5th. Wall Street Zen upgraded shares of CS Disco from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of CS Disco in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $9.00.

CS Disco Company Profile

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.