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

Digital Asset Acquisition Corp. (NASDAQ:DAAQ) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 26,977 shares, an increase of 64.3% from the July 15th total of 16,420 shares. Based on an average daily volume of 23,501 shares, the short-interest ratio is presently 1.1 days. Approximately 0.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

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

Digital Asset Acquisition Price Performance

NASDAQ:DAAQ traded down $0.01 on Monday, hitting $10.41. The company had a trading volume of 26,208 shares, compared to its average volume of 89,643. Digital Asset Acquisition has a 52 week low of $6.60 and a 52 week high of $10.49. The firm has a 50 day moving average of $9.82 and a two-hundred day moving average of $10.10.

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

Institutional Investors Weigh In On Digital Asset Acquisition

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cannon Global Investment Management LLC bought a new stake in shares of Digital Asset Acquisition in the 4th quarter valued at $168,000. ABC Arbitrage SA acquired a new position in Digital Asset Acquisition during the fourth quarter worth $254,000. Readystate Asset Management LP lifted 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 acquiring an additional 1,174 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Digital Asset Acquisition during the fourth quarter valued at approximately $869,000. Finally, Lineage Point Capital LP purchased a new position in Digital Asset Acquisition during the 4th quarter worth $1,016,000.

Digital Asset Acquisition Company Profile

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.