Digital Asset Acquisition Corp. (NASDAQ:DAAQ) Shares Shorted: Short Interest Down 44.0% in October

Digital Asset Acquisition Corp. (NASDAQ:DAAQ) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totaling 1,917 shares, a drop of 44.0% from the September 30th total of 3,424 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 88,454 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On Digital Asset Acquisition

A hedge fund recently bought a new stake in Digital Asset Acquisition stock. Sona Asset Management US LLC purchased a new position in shares of Digital Asset Acquisition Corp. (NASDAQ:DAAQ) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 255,300 shares of the company’s stock, valued at approximately $2,614,000. Sona Asset Management US LLC owned about 1.48% of Digital Asset Acquisition as of its most recent SEC filing.

Wall Street Analysts Forecast Growth

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

Digital Asset Acquisition Price Performance

DAAQ traded up $0.02 during trading on Friday, reaching $10.50. 1,193 shares of the stock traded hands, compared to its average volume of 98,852. The stock’s 50-day simple moving average is $10.46 and its two-hundred day simple moving average is $10.20. Digital Asset Acquisition has a fifty-two week low of $6.60 and a fifty-two week high of $10.51.

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

Digital Asset Acquisition Company Profile

Digital Asset Acquisition Corp. (NASDAQ: DAAQ) was a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more companies. Rather than operating a traditional business, the company was established to raise capital through a public offering and use those proceeds to pursue a merger, acquisition, share exchange or similar transaction.

The company’s stated focus was on opportunities connected with digital assets, financial technology and related technology sectors.