Digital Asset Acquisition Corp. (NASDAQ:DAAQ) Short Interest Down 87.9% in August

by · The Markets Daily

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Cannon Global Investment Management LLC grew its stake in shares of Digital Asset Acquisition by 17.6% in the 1st quarter. Cannon Global Investment Management LLC now owns 19,400 shares of the company’s stock valued at $199,000 after purchasing an additional 2,900 shares during the last quarter. ABC Arbitrage SA purchased a new position in Digital Asset Acquisition in the 4th quarter valued at $254,000. Readystate Asset Management LP grew its position in Digital Asset Acquisition by 4.7% in the 4th quarter. Readystate Asset Management LP now owns 26,174 shares of the company’s stock valued at $267,000 after buying an additional 1,174 shares during the last quarter. Virtu Financial LLC acquired a new position in Digital Asset Acquisition in the 4th quarter valued at $869,000. Finally, Lineage Point Capital LP acquired a new position in Digital Asset Acquisition in the 4th quarter valued at $1,016,000.

Digital Asset Acquisition Price Performance

NASDAQ DAAQ remained flat at $10.44 during trading on Friday. The company’s stock had a trading volume of 510,590 shares, compared to its average volume of 45,962. Digital Asset Acquisition has a 52 week low of $6.60 and a 52 week high of $10.49. The business’s fifty day moving average is $9.84 and its 200 day moving average is $10.13.

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.

Analysts Set New Price Targets

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

Check Out Our Latest Stock Report on Digital Asset Acquisition

Digital Asset Acquisition Company Profile

(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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