Disco Corp (OTCMKTS:DSCSY) Short Interest Up 203.0% in August

Key Points

• Short interest surged 203% in August to 46,196 shares, though only about 0.0% of Disco’s shares were sold short and the short-interest ratio remained low at 0.1 days.
• Analyst sentiment is moderately bullish: Jefferies upgraded the stock to “buy,” while Zacks downgraded it to “hold”; overall, analysts assign Disco an average “Moderate Buy” rating.
• Disco shares rose 1.6% to $34.34, while the company reported quarterly revenue of $717.28 million and earnings of $0.20 per share. Azimuth Capital also initiated a stake worth approximately $11.9 million.

Disco Corp (OTCMKTS:DSCSY - Get Free Report) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 46,196 shares, a growth of 203.0% from the August 15th total of 15,246 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 311,923 shares, the short-interest ratio is presently 0.1 days.

Analysts Set New Price Targets

DSCSY has been the subject of several research analyst reports. Zacks Research downgraded shares of Disco from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 19th. Jefferies Financial Group raised shares of Disco from a "hold" rating to a "buy" rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy".

Disco Stock Up 1.6%

DSCSY traded up $0.54 during trading on Friday, reaching $34.34. The stock had a trading volume of 164,405 shares, compared to its average volume of 196,322. The firm has a market capitalization of $37.26 billion, a price-to-earnings ratio of 39.47 and a beta of 1.54. Disco has a 1-year low of $26.33 and a 1-year high of $58.00. The stock has a 50 day moving average of $38.67 and a two-hundred day moving average of $42.99.

Disco (OTCMKTS:DSCSY - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.20 earnings per share (EPS) for the quarter. Disco had a return on equity of 26.03% and a net margin of 31.65%.The company had revenue of $717.28 million for the quarter. On average, research analysts forecast that Disco will post 1.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Disco

An institutional investor recently bought a new stake in Disco stock. Azimuth Capital Investment Management LLC acquired a new stake in shares of Disco Corp (OTCMKTS:DSCSY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 237,250 shares of the company's stock, valued at approximately $11,862,000. Hedge funds and other institutional investors own 0.03% of the company's stock.

About Disco

DISCO Corporation, traded in the United States under the symbol DSCSY, is a Japanese manufacturer of precision processing equipment and tools used primarily in semiconductor and electronic-component production. The company develops technologies for cutting, grinding and polishing hard, brittle materials such as silicon, compound semiconductors, glass and ceramics.

Its product portfolio includes wafer-dicing saws, grinding and polishing systems, laser-based processing equipment, and the consumable blades, wheels and other tools used with those machines.

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