Digital Asset Acquisition Corp. (NASDAQ:DAAQ – Get Free Report) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totaling 1,917 shares, a decline of 44.0% from the September 30th total of 3,424 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 88,454 shares, the short-interest ratio is presently 0.0 days.
Hedge Funds Weigh In On Digital Asset Acquisition
An institutional investor recently bought a new stake in Digital Asset Acquisition stock. Sona Asset Management US LLC acquired a new stake in Digital Asset Acquisition Corp. (NASDAQ:DAAQ – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 255,300 shares of the company’s stock, valued at approximately $2,614,000. Sona Asset Management US LLC owned 1.48% of Digital Asset Acquisition as of its most recent SEC filing.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings upgraded shares of 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 data from MarketBeat, Digital Asset Acquisition presently has an average rating of “Sell”.
Digital Asset Acquisition Stock Performance
Digital Asset Acquisition stock opened at $10.50 on Tuesday. The stock’s 50 day moving average price is $10.46 and its 200 day moving average price is $10.20. Digital Asset Acquisition has a 1-year low of $6.60 and a 1-year high of $10.51.
Digital Asset Acquisition (NASDAQ:DAAQ – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The company reported $0.06 earnings per share (EPS) for the quarter.
About Digital Asset Acquisition
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.
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