The 10 most shorted ASX stocks plus the biggest risers and fallers – Week 22
Uranium shorts broadly eased as uranium prices recovered to the US$70/lb level, while bearish bets against lithium spiked on weak pricing.
Source: iStock
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 changes between 12 and 19 May 2025
Month-on-month changes between 16 April and 19 May 2025
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 | 21.70% | -1.89% | -4.02% | |
Paladin Energy | 15.63% | 0.16% | -1.30% | |
Mineral Resources | 14.33% | 1.25% | 1.01% | |
Liontown Resources | 12.76% | 1.46% | 0.56% | |
Idp Education | 12.65% | -0.45% | 0.05% | |
Pilbara Minerals | 12.29% | 0.72% | 0.31% | |
Deep Yellow | 11.63% | -0.68% | -1.35% | |
Polynovo | 10.98% | 0.31% | 0.77% | |
Cettire | 10.66% | -0.07% | 1.00% | |
Karoon Energy | 10.12% | -0.11% | 0.83% |
Key takeaways
Uranium Shorts Decline: Short interest in uranium stocks has broadly eased as uranium prices surpassed US$70/lb, rebounding from an 18-month low of US$64 in March and April.
Lithium Shorts Increase: Short interest in lithium stocks is rising as prices for the battery metal continue to plummet toward multi-year lows. Lithium carbonate prices in China dropped to a four-year low of 63,000 yuan per tonne, with supply outstripping demand. The Shanghai Metal Market reported spodumene prices at $647 per tonne, down approximately 15% month-on-month. For context, Pilbara Minerals’ March quarter unit operating costs (CIF) were US$499 per tonne.
Rising Shorts
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Liontown Resources | 12.76% | 1.46% | 0.56% | |
Whitehaven Coal | 5.73% | 1.35% | 1.26% | |
Mineral Resources | 14.33% | 1.25% | 1.01% | |
Atlas Arteria | 2.14% | 0.99% | 1.01% | |
GPT Group | 2.71% | 0.87% | 0.93% | |
Neuren Pharmaceuticals | 6.43% | 0.78% | 0.78% | |
Pilbara Minerals | 12.29% | 0.72% | 0.31% | |
Collins Foods | 4.85% | 0.63% | 0.78% | |
Bank of Queensland | 4.46% | 0.61% | 0.98% | |
Domino's Pizza | 10.01% | 0.61% | -0.15% | |
Nanosonics | 4.55% | 0.60% | 1.05% | |
Treasury Wine Estates | 7.56% | 0.56% | 1.15% | |
Ventia Services Group | 1.00% | 0.54% | 0.22% | |
Ramelius Resources | 6.22% | 0.52% | 1.62% |
Key takeaways
Liontown’s Surge Attracts Shorts: Liontown’s stock rallied by as much as 65% in May despite limited news, likely drawing short sellers amid falling lithium prices. During this rally, Chairman Tim Goyder sold 2 million shares, representing about 0.59% of his 333 million shareholding.
Whitehaven’s Mixed Dynamics: Whitehaven’s share price climbed approximately 10% this month, yet short interest continues to tick higher. The company’s March quarter report (released April 29) highlighted stronger-than-expected run-of-mine (ROM) and saleable production, driven by strong performances at Blackwater and Maules Creek. However, realised pricing for metallurgical and thermal coal missed market expectations, reflecting a challenging pricing environment. Brokers have commended Whitehaven’s operational resilience and cost-reduction efforts, with capital management initiatives — such as a share buyback program and balance sheet strengthening post-Blackwater selldown — also viewed positively.
Most covered
Key takeaways
Limited Short Covering: Outside of uranium and the under-offer Domain, there has been minimal short-covering activity across other sectors.
Syrah’s Rally on Tariff News: Syrah’s stock surged by up to 70% this month, supported by news of the U.S. Commerce Department planning tariffs of up to 720% on certain Chinese graphite imports, boosting sentiment for the graphite producer.
