Short Interest in DISCO CORP (OTCMKTS:DSCSY) Rises By 47.4%

Key Points

• Disco Corp (OTCMKTS:DSCSY) experienced a significant rise in short interest in August, increasing by 47.4% to a total of 11,200 shares.
• The stock received an upgrade from Macquarie, changing its rating from "hold" to "strong-buy", contributing to an average rating of "buy" among analysts.
• Disco's stock rose to $30.02 per share during mid-day trading, with the company's recent earnings exceeding expectations by reporting $0.15 earnings per share compared to a consensus of $0.12.

DISCO CORP (OTCMKTS:DSCSY - Get Free Report) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 11,200 shares, an increase of 47.4% from the August 15th total of 7,600 shares. Approximately 0.0% of the company's stock are sold short. Based on an average trading volume of 118,500 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 118,500 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company's stock are sold short.

DISCO Stock Performance

Shares of OTCMKTS:DSCSY traded down $0.68 during trading on Friday, reaching $32.55. The stock had a trading volume of 328,171 shares, compared to its average volume of 65,714. The business has a fifty day moving average price of $28.27 and a 200-day moving average price of $24.64. The stock has a market cap of $35.30 billion, a PE ratio of 43.40 and a beta of 1.44. DISCO has a 1-year low of $16.10 and a 1-year high of $35.07.

DISCO (OTCMKTS:DSCSY - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.03. The company had revenue of $622.39 million for the quarter, compared to analyst estimates of $575.52 million. DISCO had a return on equity of 26.62% and a net margin of 30.90%. Sell-side analysts expect that DISCO will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Macquarie raised DISCO from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, DISCO currently has a consensus rating of "Buy".

About DISCO

Disco Corporation manufactures and sells precision cutting, grinding, and polishing machines in Japan and internationally. Its precision machines include dicing saws, laser saws, grinders, polishers, wafer mounters, die separators, surface planers, and waterjet saws. The company also offers precision processing tools, such as dicing blades, grinding wheels, and dry polishing wheels; and other products, such as accessory equipment.