The 10 most shorted ASX stocks plus the biggest risers and fallers – Week 20

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 changes between 28 April and 5 May 2025

• Month-on-month changes between 7 April and 5 May 2025

• Most covered and rising short tables record week-on-week changes of 0.5% or more

Most Shorted

Key takeaways

• Boss Energy Short Interest Dips: A slight decline in Boss Energy's short interest aligns with its surging share price, up over 30% since mid-April, underpinned by an ~8% rise in uranium futures from US$65/lb to US$70/lb.

• IDP Education Short Interest Rises: Despite a 17% share price surge between April 28 and May 5, and a Labor election victory reducing risks to student visa numbers, IDP Education saw an increase in short interest, defying positive catalysts.

Rising Shorts

Key takeaways

• NextDC Shorts Grow Despite Strong Update: Short interest in NextDC continues to climb, even after a positive trading update highlighting: i) Victoria’s data centers achieving 114MW in contracted utilization (161% of the current 70.5MW capacity); ii) group-wide contracted utilization up 30% to 228MW, nearing Goldman Sachs’ full-year forecast of 229.2MW; and iii) a record 54% jump in the forward order book to 127MW, with new contract revenues starting in FY27.

• Domain Short Sellers Face Pressure: Domain’s short sellers are likely scrambling after the company signed a Scheme Implementation Deed with CoStar Group and Andromeda Australia at $4.43 per share, signaling a near-certain deal that could force short covering.

Most Covered

Key takeaways

• Quiet Week for Short Covering: Overall short covering activity remained subdued this week, with limited notable shifts across the market.

• Lotus Short Interest Eases: Lotus Resources’ short interest has retreated from record highs, tracking the recent recovery in uranium spot prices and broader uranium equities.

• Northern Star Shorts Plummet: Short interest in Northern Star has dropped sharply to its lowest level since October 2023, possibly reflecting the completion of its De Grey Mining acquisition.