Short selling: Which ASX stocks are investors covering and shorting — Week 28
Short interest is rising in various beaten up names such as Jervois Global, Elders and Downer EDI.
Source: iStock
Mentioned
KEY POINTS
- The top ten most shorted stocks are unchanged compared to the previous week
- Short interest is rising in various beaten up names, some of which started to bounce off recent lows
- Shorts are covering in M&A-related names — both those receiving takeover bids and those acquiring new companies
Welcome back to the Short Seller Series, where we recap the most shorted stocks on the ASX as well as those experiencing notable rises, or falls, in 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 data below refers to short interest changes for stocks between 5 July and 28 June.
Most shorted stocks
Ticker | Company | Short % | Prev | % Chg |
|---|---|---|---|---|
Flight Centre Travel | 10.48% | 10.19% | 0.29% | |
Core Lithium | 9.61% | 9.33% | 0.28% | |
Idp Education | 9.51% | 9.43% | 0.08% | |
AMA Group | 7.84% | 7.82% | 0.02% | |
Lendlease | 7.79% | 7.88% | -0.09% | |
Select Harvests | 7.62% | 7.69% | -0.07% | |
JB Hi-Fi | 7.59% | 7.47% | 0.12% | |
Temple & Webster | 7.57% | 7.83% | -0.26% | |
Brainchip Holdings | 7.30% | 7.23% | 0.07% | |
Breville Group | 6.96% | 6.99% | -0.03% |
What’s changed
Very incremental week with only a few names changing places
No new stocks moved in or out of the top 10
Where are shorters going?
Interesting takeaways:
Thematically, shorts are rising in various beaten up names, some of which are beginning to bounce off recent lows – Notably Elders and Downer
29Metals is a name that’s at risk of a capital raising as it seeks to repair its Capricorn Copper asset after unprecedented floods earlier this year. A trading update on 5 July cited a cash balance of $127 million which includes the drawdown of a US$40 million revolving capital facility. This compares to $163 million cash and an undrawn US$40 million facility at 31 March.
Where are shorts covering?
Ticker | Company | Short % | Prev | % Chg |
|---|---|---|---|---|
Firefinch | 3.23% | 4.70% | -1.47% | |
Genesis Minerals | 1.57% | 2.99% | -1.42% | |
Aurelia Metals | 0.97% | 2.17% | -1.20% | |
Mincor Resources | 0.38% | 1.55% | -1.17% | |
Bubs Australia | 1.97% | 2.92% | -0.95% | |
Pantoro | 0.11% | 0.92% | -0.81% | |
Betmakers Technology | 4.76% | 5.48% | -0.72% | |
Coronado Global | 0.25% | 0.95% | -0.70% | |
Insignia Financial | 2.10% | 2.66% | -0.56% | |
Pointsbet | 4.15% | 4.70% | -0.55% | |
St Barbara | 1.30% | 1.81% | -0.51% | |
Liontown Resources | 2.92% | 3.42% | -0.50% |
Interesting takeaways
Several M&A-related names are experiencing a pullback in short interest. This includes both companies that are the recipient of takeover offers and those acquiring new companies
Genesis Minerals – Acquires St Barbara’s Leonora assets
Mincor – To be acquired by Wyloo Metals
Pantoro – Set to merge with Tulla Resources
PointsBet – Recommends US$225 million takeover offer from Fanatics Betting and Gaming for US business
St Barbara – Sold Leonora assets to Genesis Minerals
Liontown Resources – Rejected $2.50 per share bid from Albemarle
