Short Interest in CS Disco, Inc. (NYSE:LAW) Grows By 33.2%

CS Disco, Inc. (NYSE:LAW) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 1,400,344 shares, a growth of 33.2% from the February 26th total of 1,051,263 shares. Based on an average daily trading volume, of 552,360 shares, the days-to-cover ratio is presently 2.5 days. Currently, 2.6% of the company’s shares are sold short.

CS Disco Price Performance

LAW stock traded up $0.14 during trading on Monday, reaching $3.82. The company had a trading volume of 195,179 shares, compared to its average volume of 395,271. CS Disco has a 52 week low of $2.45 and a 52 week high of $9.11. The business has a 50 day moving average of $4.45 and a 200 day moving average of $6.09. The company has a market cap of $241.60 million, a P/E ratio of -5.30 and a beta of 2.16.

Insider Buying and Selling at CS Disco

In other CS Disco news, EVP Karen Herckis sold 8,171 shares of the firm’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 $25,084.97. Following the sale, the executive vice president owned 132,259 shares of the company’s stock, valued at $406,035.13. This trade represents a 5.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Friedrichsen acquired 15,500 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was purchased at an average price of $2.90 per share, for a total transaction of $44,950.00. Following the transaction, the chief executive officer directly owned 1,508,172 shares of the company’s stock, valued at approximately $4,373,698.80. This trade represents a 1.04% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 1,090,200 shares of company stock worth $3,475,943 and have sold 27,711 shares worth $85,073. 16.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LAW. CWM LLC grew its stake in CS Disco by 73.5% in the third quarter. CWM LLC now owns 4,804 shares of the company’s stock worth $31,000 after purchasing an additional 2,035 shares during the period. Pilgrim Partners Asia Pte Ltd purchased a new position in CS Disco during the third quarter valued at $62,000. Tower Research Capital LLC TRC boosted its holdings in shares of CS Disco by 87.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,968 shares of the company’s stock valued at $44,000 after buying an additional 4,639 shares in the last quarter. Algert Global LLC bought a new stake in shares of CS Disco during the 3rd quarter valued at $70,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of CS Disco in the 4th quarter worth about $99,000. Hedge funds and other institutional investors own 58.05% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LAW. Canaccord Genuity Group reduced their price target on CS Disco from $9.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of CS Disco in a report on Wednesday, January 21st. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of CS Disco in a research report on Thursday, February 26th. Wall Street Zen downgraded CS Disco from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Jefferies Financial Group raised their price target on CS Disco from $6.00 to $8.00 and gave the stock a “hold” rating in a research note on Monday, January 5th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $8.00.

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.