Digital Asset Acquisition (NASDAQ:DAAQ) Releases Earnings Results

Digital Asset Acquisition (NASDAQ:DAAQ) posted its quarterly earnings data on Monday. The company reported $0.06 earnings per share for the quarter, FiscalAI reports.

Digital Asset Acquisition Price Performance

Shares of NASDAQ DAAQ traded up $0.39 during mid-day trading on Monday, hitting $8.80. The company had a trading volume of 39,648 shares, compared to its average volume of 93,225. The firm has a 50-day simple moving average of $10.22 and a two-hundred day simple moving average of $10.24. Digital Asset Acquisition has a one year low of $6.60 and a one year high of $10.49.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Digital Asset Acquisition in a research note on Thursday, June 4th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Trading of Digital Asset Acquisition

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAAQ. Sona Asset Management US LLC bought a new stake in shares of Digital Asset Acquisition in the 1st quarter valued at about $2,614,000. Berkley W R Corp acquired a new position in shares of Digital Asset Acquisition during the 1st quarter worth approximately $7,796,000. Cannon Global Investment Management LLC raised its stake in 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 acquiring an additional 2,900 shares during the period. Lineage Point Capital LP acquired a new stake in Digital Asset Acquisition during the 4th quarter valued at $1,016,000. Finally, Virtu Financial LLC bought a new position in Digital Asset Acquisition during the fourth quarter worth $869,000.

About Digital Asset Acquisition

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.