Short selling: Which ASX stocks are investors covering and shorting — Week 30
Flight Centre, Core Lithium and IDP Education remain the top three most shorted stocks this week.
Source: iStock
Mentioned
KEY POINTS
- Flight Centre, Core Lithium and IDP Education remain the top three most shorted stocks
- Shorts are rising in beaten up battery metal stocks like Syrah Resources and Jervois Global
- Shorters are winding down in stocks from sectors including tech, coal and large cap lithium
Welcome back to the Short Seller Series, where we recap the most shorted stocks on the ASX as well as those experiencing a notable rise and fall 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 12 and 19 July.
Most shorted stocks
What’s changed
Flight Centre, Core Lithium and Idp Education remain the top three most shorted stocks
Syrah Resources jumps to #4 from #10 a week ago
Where are shorters going?
Interesting takeaways:
Notable rise for three battery metal laggards
Syrah Resources (-64% YTD): Paused graphite production in May and June constrained by “maximum inventory positions and lower natural graphite sales.” Macquarie flagged that the company’s Vidalia Anode plant faces a potential US$100 million funding shortfall that might require a capital raise in early 2024
Jervois Global (-78% YTD): Suspended final construction of its Idaho Cobalt Project in March due to “continuing lower cobalt prices” and recently raised US$50 million
Lake Resources (-70% YTD): Announced the two phase development of its flagship Kachi Project in mid-June which triggered a 35% selloff across two days
Where are shorts covering?
Ticker | Company | Short % | Prev | % Chg |
|---|---|---|---|---|
Megaport | 3.1% | 4.4% | -1.3% | |
Whitehaven Coal | 1.8% | 3.0% | -1.3% | |
Temple & Webster | 6.6% | 7.4% | -0.9% | |
Iluka Resources | 1.5% | 2.4% | -0.9% | |
IGO | 2.8% | 3.4% | -0.7% | |
New Hope | 3.2% | 3.8% | -0.6% | |
Lendlease | 7.3% | 7.8% | -0.5% | |
Link Administration | 0.5% | 0.9% | -0.5% | |
EML Payments | 4.6% | 5.0% | -0.5% | |
Pointsbet | 3.1% | 3.5% | -0.5% | |
Electro Optic | 0.6% | 1.1% | -0.5% | |
Lynas | 4.2% | 4.7% | -0.4% | |
Costa Group | 2.1% | 2.5% | -0.4% | |
Allkem | 0.6% | 1.0% | -0.4% | |
Qualitas | 0.2% | 0.6% | -0.4% | |
G.U.D. Holdings | 3.5% | 3.9% | -0.4% | |
Seek | 2.0% | 2.3% | -0.4% | |
Weebit Nano | 4.8% | 5.2% | -0.4% | |
Aussie Broadband | 4.2% | 4.5% | -0.4% |
Interesting takeaways
Tech (Megaport, EML Payments, Seek) continues to see a wind down in short interest ahead of mega cap US tech earnings
Coal names like Whitehaven Coal and New Hope experience a timely pullback in short interest – Both are up 12-15% since 12 July
Battery metal heavyweights Iluka, IGO, Allkem and Lynas shorts also eased – But given their recent share price weakness, suggests its more profit taking from the shorters perspective
