Digital Asset Acquisition Corp. (NASDAQ:DAAQ) Sees Large Decrease in Short Interest

Digital Asset Acquisition Corp. (NASDAQ:DAAQ – Get Free Report) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 4,317 shares, a drop of 87.9% from the August 15th total of 35,594 shares. Based on an average daily volume of 11,379 shares, the short-interest ratio is currently 0.4 days. Currently, 0.0% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Digital Asset Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

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Digital Asset Acquisition Stock Performance

Digital Asset Acquisition stock remained flat at $10.44 during mid-day trading on Friday. The company had a trading volume of 199,236 shares, compared to its average volume of 85,961. The business has a 50 day simple moving average of $9.84 and a two-hundred day simple moving average of $10.13. Digital Asset Acquisition has a 1-year low of $6.60 and a 1-year high of $10.49.

Digital Asset Acquisition (NASDAQ:DAAQ – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.06 earnings per share (EPS) for the quarter.

Institutional Trading of Digital Asset Acquisition

A number of large investors have recently added to or reduced their stakes in the stock. Sona Asset Management US LLC bought a new stake in Digital Asset Acquisition in the first quarter worth about $2,614,000. Berkley W R Corp purchased a new stake in shares of Digital Asset Acquisition during the 1st quarter worth approximately $7,796,000. Cannon Global Investment Management LLC increased its stake in shares of Digital Asset Acquisition by 17.6% during the 1st quarter. Cannon Global Investment Management LLC now owns 19,400 shares of the company’s stock worth $199,000 after purchasing an additional 2,900 shares during the last quarter. Lineage Point Capital LP bought a new stake in shares of Digital Asset Acquisition in the 4th quarter worth approximately $1,016,000. Finally, Virtu Financial LLC bought a new stake in shares of Digital Asset Acquisition in the 4th quarter worth approximately $869,000.

About Digital Asset Acquisition

(Get Free Report)

We are a special purpose acquisition company incorporated on December 9, 2024 as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.

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