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

Digital Asset Acquisition Corp. (NASDAQ:DAAQ) shares shot up 0.1% on Friday . The stock traded as high as $10.23 and last traded at $10.23. 8,205 shares changed hands during trading, a decline of 89% from the average session volume of 74,506 shares. The stock had previously closed at $10.22.

Analyst Ratings Changes

DAAQ has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Digital Asset Acquisition in a research note on Wednesday, December 24th. Wall Street Zen upgraded Digital Asset Acquisition to a “hold” rating in a research report on Saturday, December 13th. 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”.

Digital Asset Acquisition Price Performance

The business’s 50 day simple moving average is $10.22.

Institutional Trading of Digital Asset Acquisition

Several large investors have recently bought and sold shares of DAAQ. Cannon Global Investment Management LLC acquired a new position in shares of Digital Asset Acquisition during the 4th quarter worth approximately $168,000. Wolverine Asset Management LLC boosted its stake in Digital Asset Acquisition by 36.0% during the fourth quarter. Wolverine Asset Management LLC now owns 162,613 shares of the company’s stock worth $1,652,000 after buying an additional 43,012 shares during the last quarter. ABC Arbitrage SA purchased a new stake in Digital Asset Acquisition in the 4th quarter valued at $254,000. Periscope Capital Inc. boosted its position in shares of Digital Asset Acquisition by 317.4% during the 4th quarter. Periscope Capital Inc. now owns 150,000 shares of the company’s stock valued at $1,524,000 after acquiring an additional 114,062 shares during the last quarter. Finally, DLD Asset Management LP boosted its position in shares of 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 last quarter.

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.