Disco (OTCMKTS:DSCSY) Shares Gap Up – Here’s Why

Disco Corp (OTCMKTS:DSCSY) shares gapped up before the market opened on Monday. The stock had previously closed at $23.20, but opened at $27.08. Disco shares last traded at $27.9150, with a volume of 21,218 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Zacks Research upgraded shares of Disco from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Jefferies Financial Group raised shares of Disco from a “hold” rating to a “buy” rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat, Disco currently has a consensus rating of “Strong Buy”.

Disco Price Performance

The business has a 50 day simple moving average of $34.32 and a 200 day simple moving average of $41.45. The stock has a market cap of $31.26 billion, a PE ratio of 30.64 and a beta of 1.67.

Disco (OTCMKTS:DSCSY) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $0.27 earnings per share for the quarter. The company had revenue of $897.04 million during the quarter. Disco had a return on equity of 27.68% and a net margin of 32.04%. As a group, sell-side analysts forecast that Disco Corp will post 1.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Disco

A hedge fund recently bought a new stake in Disco stock. Azimuth Capital Investment Management LLC acquired a new stake in shares of Disco Corp (OTCMKTS:DSCSY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 237,250 shares of the company’s stock, valued at approximately $11,862,000. 0.03% of the stock is owned by institutional investors and hedge funds.

About Disco