Digital Asset Acquisition Corp. (NASDAQ:DAAQ) Short Interest Update

Digital Asset Acquisition Corp. (NASDAQ:DAAQ) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 26,977 shares, a growth of 64.3% from the July 15th total of 16,420 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average trading volume of 23,501 shares, the days-to-cover ratio is currently 1.1 days.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Digital Asset Acquisition

Institutional investors and hedge funds have recently bought and sold shares of the company. Cannon Global Investment Management LLC acquired a new position in shares of Digital Asset Acquisition during the fourth quarter worth $168,000. ABC Arbitrage SA acquired a new stake in shares of Digital Asset Acquisition in the 4th quarter worth $254,000. Readystate Asset Management LP grew its stake in Digital Asset Acquisition by 4.7% during the 4th quarter. Readystate Asset Management LP now owns 26,174 shares of the company’s stock worth $267,000 after buying an additional 1,174 shares during the last quarter. Virtu Financial LLC purchased a new position in Digital Asset Acquisition during the 4th quarter worth $869,000. Finally, Lineage Point Capital LP acquired a new position in Digital Asset Acquisition during the 4th quarter valued at about $1,016,000.

Digital Asset Acquisition Stock Performance

NASDAQ:DAAQ opened at $10.41 on Wednesday. Digital Asset Acquisition has a fifty-two week low of $6.60 and a fifty-two week high of $10.49. The company’s 50-day simple moving average is $9.82 and its 200-day simple moving average is $10.11.

Digital Asset Acquisition (NASDAQ:DAAQ) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.06 EPS for the quarter.

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.