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

CS Disco, Inc. (NYSE:LAW - Get Free Report) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 397,000 shares, a decrease of 18.0% from the March 31st total of 484,000 shares. Approximately 1.8% of the company's shares are short sold. Based on an average daily trading volume, of 113,600 shares, the short-interest ratio is currently 3.5 days.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a "buy" rating and set a $8.00 target price on shares of CS Disco in a report on Friday, February 21st.

Insider Buying and Selling at CS Disco

In other CS Disco news, CFO Michael Lafair sold 13,146 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $5.19, for a total value of $68,227.74. Following the completion of the sale, the chief financial officer now owns 865,793 shares in the company, valued at approximately $4,493,465.67. The trade was a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 22,995 shares of company stock worth $118,818 over the last three months. Company insiders own 15.60% of the company's stock.

Hedge Funds Weigh In On CS Disco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Topline Capital Management LLC bought a new position in shares of CS Disco during the 4th quarter valued at approximately $9,530,000. Norges Bank bought a new stake in shares of CS Disco in the 4th quarter worth about $8,854,000. Formula Growth Ltd. grew its position in CS Disco by 23.0% in the fourth quarter. Formula Growth Ltd. now owns 750,000 shares of the company's stock worth $3,742,000 after acquiring an additional 140,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in CS Disco by 457.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 149,531 shares of the company's stock worth $746,000 after acquiring an additional 122,703 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of CS Disco by 104.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 198,746 shares of the company's stock valued at $1,169,000 after purchasing an additional 101,391 shares during the last quarter. 58.05% of the stock is owned by institutional investors.

CS Disco Price Performance

LAW stock traded down $0.01 during midday trading on Wednesday, hitting $3.54. The stock had a trading volume of 22,968 shares, compared to its average volume of 156,368. The firm has a market cap of $214.96 million, a price-to-earnings ratio of -3.85 and a beta of 2.05. The business has a 50-day moving average of $4.01 and a two-hundred day moving average of $4.95. CS Disco has a 52-week low of $3.31 and a 52-week high of $8.20.

CS Disco (NYSE:LAW - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). CS Disco had a negative return on equity of 22.30% and a negative net margin of 38.51%. The firm had revenue of $37.00 million during the quarter, compared to analysts' expectations of $36.03 million. Research analysts predict that CS Disco will post -0.64 earnings per share for the current 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.