Digital Asset Acquisition (NASDAQ:DAAQ) Announces Earnings Results

Digital Asset Acquisition (NASDAQ:DAAQ) issued its quarterly earnings data on Monday. The company reported $0.06 EPS for the quarter, FiscalAI reports.

Digital Asset Acquisition Stock Performance

Shares of DAAQ stock opened at $8.89 on Wednesday. The company’s fifty day moving average price is $10.17 and its 200-day moving average price is $10.22. Digital Asset Acquisition has a 12 month low of $6.60 and a 12 month high of $10.49.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Digital Asset Acquisition

Several large investors have recently made changes to their positions in DAAQ. Berkley W R Corp bought a new stake in shares of Digital Asset Acquisition in the 1st quarter worth approximately $7,796,000. Alberta Investment Management Corp purchased a new position in Digital Asset Acquisition during the fourth quarter valued at $5,610,000. Radcliffe Capital Management L.P. raised its stake in Digital Asset Acquisition by 267.4% during the fourth quarter. Radcliffe Capital Management L.P. now owns 474,579 shares of the company’s stock valued at $4,822,000 after buying an additional 345,411 shares during the last quarter. Verition Fund Management LLC boosted its holdings in Digital Asset Acquisition by 73.7% in the fourth quarter. Verition Fund Management LLC now owns 338,914 shares of the company’s stock worth $3,457,000 after acquiring an additional 143,758 shares in the last quarter. Finally, Sona Asset Management US LLC purchased a new stake in shares of Digital Asset Acquisition in the first quarter worth $2,614,000.

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.