Short Interest in Digital Asset Acquisition Corp. (NASDAQ:DAAQ) Expands By 64.3%

Digital Asset Acquisition Corp. (NASDAQ:DAAQ) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 26,977 shares, a growth of 64.3% from the July 15th total of 16,420 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 23,501 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAAQ. Cannon Global Investment Management LLC acquired a new stake in shares of Digital Asset Acquisition during the 4th quarter worth about $168,000. ABC Arbitrage SA bought a new stake in shares of Digital Asset Acquisition in the 4th quarter valued at $254,000. Readystate Asset Management LP boosted its holdings in shares of Digital Asset Acquisition by 4.7% in the fourth 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 during the period. Virtu Financial LLC bought a new position in shares of Digital Asset Acquisition during the 4th quarter worth approximately $869,000. Finally, Lineage Point Capital LP bought a new stake in shares of Digital Asset Acquisition during the 4th quarter worth approximately $1,016,000.

Digital Asset Acquisition Price Performance

DAAQ remained flat at $10.41 during trading on Tuesday. 2,496 shares of the company’s stock were exchanged, compared to its average volume of 89,085. The firm has a fifty day moving average of $9.82 and a 200 day moving average of $10.11. Digital Asset Acquisition has a 1 year low of $6.60 and a 1 year high of $10.49.

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

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 report on Tuesday, August 11th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

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.