ASX stocks with the biggest short interest changes – Week 47
Short sellers lifted bearish bets against James Hardie and G8 Education, while easing bets against stocks like Arafura, Paladin and Elders.
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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 3 and 10 November
Month-on-month (MoM) changes between 6 October and 10 November
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 | 21.44% | 1.09% | 1.66% | |
Domino's Pizza Enterprises | 17.31% | -0.12% | 3.30% | |
Pilbara Minerals | 14.40% | -0.27% | -2.84% | |
Polynovo | 12.03% | 1.52% | 2.17% | |
Paladin Energy | 11.97% | -1.70% | -0.20% | |
Guzman Y Gomez | 11.75% | -0.75% | -0.86% | |
Idp Education | 11.38% | -0.84% | -1.32% | |
Flight Centre Travel Group | 11.02% | 0.30% | 0.41% | |
PWR Holdings | 10.93% | 0.38% | 0.51% | |
Telix Pharmaceuticals | 10.44% | 0.21% | 1.46% |
Key takeaways
No major changes among top shorted stocks
Uranium sector volatility drives short interest changes. The sector continues to experience significant turbulence, with the NYSE-listed Global X Uranium ETF serving as a useful barometer. Over recent weeks, the ETF rallied 25% to all-time highs (1-15 Oct), then dipped 20% (16-22 Oct), bounced 15% (23-29 Oct), before falling as much as 23% (30 Oct - 14 Nov). This extreme volatility is seeing a pullback in short interest for Paladin Energy and an increase in Boss.
Rising Shorts
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
James Hardie Industries | 5.41% | 2.31% | 2.40% | |
G8 Education | 7.15% | 1.95% | 3.17% | |
Polynovo | 12.03% | 1.52% | 2.17% | |
Boss Energy | 21.44% | 1.09% | 1.66% | |
Jumbo Interactive | 4.70% | 1.00% | 1.55% | |
Develop Global | 3.44% | 1.00% | 1.98% | |
Novonix | 1.93% | 0.84% | 0.92% | |
Inghams Group | 4.96% | 0.79% | 0.27% | |
Mineral Resources | 7.42% | 0.71% | -2.47% | |
IPH | 10.22% | 0.63% | 2.86% | |
Steadfast Group | 3.57% | 0.62% | 0.28% | |
Droneshield | 4.92% | 0.53% | -0.31% |
Key takeaways
James Hardie saw a sharp spike in short interest on 6 November when the stock dipped as much as 17% (closing 12.6% lower) following disappointing updates from US home-improvement peers including Trex, Owens Corning, Home Depot, and Lowe's. The biggest catalyst was decking manufacturer Trex, which dropped as much as 30% after warning of "continued weakness" in the repair and remodeling sector, according to Bloomberg. With James Hardie shares already down 49% year-to-date, the market appears to be positioning for further deterioration.
Short sellers have aggressively targeted G8 Education, with short interest surging from around 1.3% in September to a record high of 7.3% last week. The company has faced mounting challenges since flagging in early July that one of its employees was charged with more than 70 offences. The stock now trades at its lowest level since August 2020, weighed down by both this incident and broader sector headwinds including softer occupancy, affordability pressures, and competitive dynamics. On 4 November, the stock fell 13% after management downgraded FY25 earnings guidance to $91-98 million, significantly below consensus estimates of $110.9 million (15% miss at the midpoint) and prior guidance of around $115 million (18% miss at the midpoint).
Most Covered
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Clinuvel Pharmaceuticals | 6.49% | -2.57% | 0.35% | |
Arafura Rare Earths | 3.59% | -1.81% | 2.67% | |
Paladin Energy | 11.97% | -1.70% | -0.20% | |
Elevate Uranium | 0.77% | -1.48% | -0.54% | |
Elders | 4.50% | -1.25% | -1.34% | |
IDP Education | 11.38% | -0.84% | -1.32% | |
Guzman Y Gomez | 11.75% | -0.75% | -0.86% | |
Silex Systems | 6.54% | -0.74% | -1.74% | |
Supply Network | 3.80% | -0.67% | 0.50% | |
Insignia Financial | 0.36% | -0.59% | -0.10% | |
Pinnacle Investment Management | 2.00% | -0.54% | -0.21% |
Key takeaways
Arafura's short interest has dipped from recent highs of 5.4% (3 Nov), potentially reflecting profit taking from short sellers. The stock is down almost 60% from its brief peak of 62 cents on 21 October. Most rare earth stocks are down 30-50% from recent highs following a strong rally earlier this year.
Elders experienced a modest pullback in short interest after the stock declined in eight of ten sessions between 24 October and 7 November. This followed the company's October downgrade of FY25 EBIT guidance to $142-146 million versus consensus of $161.7 million, representing a 10.9% miss at the midpoint. CEO Mark Allison attributed the shortfall to dry conditions impacting the Retail business, particularly in South Australia and Western Victoria, with drought conditions persisting through April and May.
