Digital Asset Acquisition (NASDAQ:DAAQ) Trading Up 0.1% – Time to Buy?

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

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Asset Acquisition in a report on Thursday, June 4th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Digital Asset Acquisition has an average rating of “Sell”.

Digital Asset Acquisition Stock Up 0.1%

The stock’s fifty day simple moving average is $10.34 and its 200-day simple moving average is $10.27.

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

Institutional Investors Weigh In On Digital Asset Acquisition

Large investors have recently added to or reduced their stakes in the stock. Berkley W R Corp bought a new position in Digital Asset Acquisition during the 1st quarter worth $7,796,000. Alberta Investment Management Corp acquired a new position in Digital Asset Acquisition in the 4th quarter valued at $5,610,000. Radcliffe Capital Management L.P. lifted its position in shares of Digital Asset Acquisition by 267.4% during the 4th quarter. Radcliffe Capital Management L.P. now owns 474,579 shares of the company’s stock valued at $4,822,000 after acquiring an additional 345,411 shares during the period. Sona Asset Management US LLC bought a new stake in shares of Digital Asset Acquisition during the 1st quarter valued at $2,614,000. Finally, Verition Fund Management LLC grew its holdings in shares of Digital Asset Acquisition by 73.7% during the 4th quarter. Verition Fund Management LLC now owns 338,914 shares of the company’s stock worth $3,457,000 after purchasing an additional 143,758 shares in the last 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.