ASX stocks with the biggest short interest changes – Week 44
Short sellers lifted their bets against Boss Energy and Clinuvel last week, while Northern Star experienced a sharp drop in short interest.
Source: Shutterstock
Mentioned
Welcome back to the Short Seller Series – A recap of the most heavily shorted stocks on the ASX and those experiencing significant changes to short interest over the past week.
Short selling data is four days behind today's date because reporting is not mandatory until three business days after the trade. The tables below will compare:
Week-on-week (WoW) changes between 13 and 20 October
Month-on-month (MoM) changes between 22 September and 20 October
Most covered and rising short tables record week-on-week changes of 0.5% or more
Most Shorted
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Boss Energy | 21.61% | 1.83% | 4.34% | |
Pilbara Minerals | 17.08% | -0.16% | -0.85% | |
Domino's Pizza | 14.41% | 0.40% | 2.44% | |
Guzman Y Gomez | 12.65% | 0.04% | 0.81% | |
IDP Education | 12.59% | -0.11% | -0.60% | |
Iluka Resources | 11.86% | 0.13% | 0.60% | |
Paladin Energy | 11.56% | -0.61% | 0.26% | |
Flight Centre Travel Group | 10.62% | 0.01% | 0.74% | |
PWR Holdings | 10.28% | -0.14% | -0.13% | |
Polynovo | 9.94% | 0.08% | 0.04% |
Rising Shorts
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Clinuvel Pharmaceuticals | 8.95% | 2.81% | 2.56% | |
Boss Energy | 21.61% | 1.83% | 4.34% | |
Alpha Hpa | 4.27% | 1.05% | 1.33% | |
Bluescope Steel | 4.10% | 0.61% | 1.06% | |
Aussie Broadband | 0.78% | 0.60% | 0.76% | |
IPH | 7.92% | 0.56% | 2.11% | |
SILEX Systems | 8.83% | 0.55% | 0.23% | |
Brainchip Holdings | 4.92% | 0.53% | 1.32% |
Key takeaways
Clinuvel: Short interest has been extremely volatile, swinging between 5-12% since early August. The main catalyst over the past two months has been the company's FY25 result (Aug 28), which triggered a 22% selloff as modest sales growth disappointed and the unchanged dividend plus minimal buyback activity drew fresh criticism. Management's growing cash pile continues to be seen as a poor use of capital.
Clinuvel short interest chart (Source: Shortman)
Boss Energy: Short interest spiked sharply despite no major updates since the July 29 announcement that sent the stock down 43.9%. The update revealed a structurally weaker outlook with higher-than-expected costs and capital spending. Poor continuity and leachability at East Kalkaroo undermined earlier feasibility assumptions, with analysts noting the need for additional wells and higher sustaining capex. The market is still awaiting clarity.
Most Covered
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Northern Star Resources | 0.49% | -3.30% | -3.52% | |
ARB Corporation | 5.34% | -1.39% | -0.37% | |
Weebit Nano | 1.88% | -1.18% | -0.37% | |
Australian Clinical Labs | 2.53% | -1.06% | -0.73% | |
Credit Corp Group | 0.68% | -1.03% | -0.75% | |
Integral Diagnostics | 2.11% | -1.01% | -1.39% | |
Audinate Group | 2.03% | -0.87% | -3.06% | |
Generation Development Group | 3.46% | -0.73% | -0.92% | |
Harvey Norman Holdings | 0.38% | -0.71% | -0.62% | |
Catalyst Metals | 2.22% | -0.71% | -1.03% | |
Jumbo Interactive | 2.47% | -0.68% | -0.45% | |
Clarity Pharmaceuticals | 4.87% | -0.67% | -1.58% | |
Myer Holdings | 3.98% | -0.66% | 1.21% | |
Paladin Energy | 11.56% | -0.61% | 0.26% | |
Bellevue Gold | 1.43% | -0.57% | -1.94% | |
Light & Wonder | 2.57% | -0.56% | -1.08% | |
Droneshield | 4.69% | -0.54% | -0.67% | |
Ventia Services Group | 1.17% | -0.53% | 0.45% | |
Lotus Resources | 5.94% | -0.52% | 0.79% | |
Ramelius Resources | 3.58% | -0.51% | -0.79% |
Key takeaways
Northern Star: Short interest dropped abruptly from ~3.8% despite no major announcements between 13-20 October. Though the stock did hit successive all-time highs during this period thanks to surging gold prices. Analyst sentiment remains mixed given the company faces a heavy capex period from FY26-28 with minimal cash flows expected.
ARB: Short interest pulled back significantly without any major company updates. The October 15 AGM noted 3.8% sales growth for the September quarter, with the aftermarket business performing well despite tough conditions. Management said the order book remains healthy despite weaker core model sales. Interestingly, ARB shares fell 3.8% on October 20 alongside a trading update from peer Bapcor, whose FY26 guidance came in 32% below expectations due to higher costs and difficult market conditions. Bapcor finished down 17.6% to the lowest level since April 2020.
