Digital Asset Acquisition (NASDAQ:DAAQ) Trading Up 0.1% – Here’s Why

Digital Asset Acquisition Corp. (NASDAQ:DAAQ)’s stock price traded up 0.1% during mid-day trading on Monday . The stock traded as high as $10.44 and last traded at $10.43. 11,559 shares traded hands during trading, a decline of 83% from the average daily volume of 66,320 shares. The stock had previously closed at $10.42.

Wall Street Analyst Weigh In

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

Digital Asset Acquisition Stock Performance

The firm’s 50-day simple moving average is $10.35 and its 200-day simple moving average is $10.27.

Digital Asset Acquisition (NASDAQ:DAAQ) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.05 EPS for the quarter.

Institutional Inflows and Outflows

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