Digital Asset Acquisition (NASDAQ:DAAQ) Trading Up 0% – What’s Next?
by Amy Steele · The Cerbat GemDigital Asset Acquisition Corp. (NASDAQ:DAAQ – Get Free Report) shot up 0% on Wednesday . The company traded as high as $10.44 and last traded at $10.4350. 1,551 shares traded hands during trading, a decline of 97% from the average daily volume of 52,981 shares. The stock had previously closed at $10.43.
Analyst Ratings Changes
Separately, Weiss Ratings raised Digital Asset Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Digital Asset Acquisition has an average rating of “Sell”.
Check Out Our Latest Stock Analysis on DAAQ
Digital Asset Acquisition Stock Performance
The business has a fifty day moving average price of $9.84 and a two-hundred day moving average price of $10.13.
Digital Asset Acquisition (NASDAQ:DAAQ – Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.06 earnings per share (EPS) for the quarter.
Hedge Funds Weigh In On Digital Asset Acquisition
Large investors have recently made changes to their positions in the stock. Readystate Asset Management LP boosted its position in shares of Digital Asset Acquisition by 4.7% during the fourth quarter. Readystate Asset Management LP now owns 26,174 shares of the company’s stock worth $267,000 after buying an additional 1,174 shares during the period. Cannon Global Investment Management LLC raised its holdings in shares of Digital Asset Acquisition by 17.6% in the 1st quarter. Cannon Global Investment Management LLC now owns 19,400 shares of the company’s stock valued at $199,000 after buying an additional 2,900 shares during the period. Schonfeld Strategic Advisors LLC lifted its stake in Digital Asset Acquisition by 62.3% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 130,046 shares of the company’s stock worth $1,321,000 after acquiring an additional 49,923 shares in the last quarter. Rivernorth Capital Management LLC lifted its stake in Digital Asset Acquisition by 33.6% during the 4th quarter. Rivernorth Capital Management LLC now owns 198,852 shares of the company’s stock worth $2,020,000 after acquiring an additional 50,026 shares in the last quarter. Finally, DLD Asset Management LP boosted its holdings in Digital Asset Acquisition by 79.7% during the 4th quarter. DLD Asset Management LP now owns 126,399 shares of the company’s stock valued at $1,284,000 after acquiring an additional 56,046 shares during the period.
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.