The 10 most shorted ASX stocks plus the biggest risers and fallers – Week 23
IDP Education, Chalice Mining and Syrah Resources experienced a notable change in short interest last week.
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Mentioned
KEY POINTS
- Pilbara Minerals, IDP Education and Syrah Resources remain the most shorted stocks on the market
- IDP Education experienced a pullback in short interest right before an earnings downgrade
- Short interest is flowing out of stocks under takeover
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 May and 4 June 2024.
Most Shorted
Ticker | Company | Short % | Prev Week | WoW % Chg |
|---|---|---|---|---|
Pilbara Minerals | 21.37% | 21.72% | -0.35% | |
Idp Education | 12.88% | 17.05% | -4.17% | |
Syrah Resources | 10.63% | 12.85% | -2.22% | |
Liontown Resources | 9.99% | 9.85% | 0.14% | |
Flight Centre Travel | 9.71% | 10.64% | -0.93% | |
Chalice Mining | 9.70% | 8.15% | 1.55% | |
Westgold Resources | 9.66% | 9.57% | 0.09% | |
Sayona Mining | 9.39% | 9.26% | 0.13% | |
Australian Clinical Labs | 8.54% | 9.93% | -1.39% | |
Weebit Nano | 8.36% | 7.92% | 0.44% |
Key takeaways:
Pilbara Minerals, IDP Education and Syrah Resources have remained the three most shorted stocks since early February (Core Lithium once took the #3 spot)
IDP Education experienced a sizeable drop in short interest. On Friday, 7 June (or three days after the above short interest data), the company issued a trading update and downgraded its earnings expectations for 2H24 and FY25. The company expects market conditions to remain challenging due to restrictive policy environments in Australia, the UK and Canada. IDP shares finished the session down 7.8%.
Rising Shorts
Ticker | Company | Short % | Prev Week | WoW % Chg |
|---|---|---|---|---|
Chalice Mining | 9.70% | 8.15% | 1.55% | |
Pro Medicus | 3.30% | 1.85% | 1.45% | |
Lovisa | 1.83% | 0.62% | 1.21% | |
Block Inc | 2.67% | 1.75% | 0.92% | |
Cooper Energy | 2.19% | 1.34% | 0.85% | |
Bluescope Steel | 2.64% | 1.97% | 0.67% | |
Domino's Pizza | 5.27% | 4.66% | 0.61% | |
Sigma Healthcare | 2.72% | 2.13% | 0.59% | |
Nufarm | 4.92% | 4.36% | 0.56% | |
Zip | 3.25% | 2.69% | 0.56% | |
Megaport | 2.08% | 1.52% | 0.56% | |
Boss Energy | 4.15% | 3.64% | 0.51% |
Key takeaways:
Chalice experienced a 9.8% selloff on Tuesday after announcing a metallurgical testwork update for its Gonneville Project. The results suggest potential for improved metal recoveries but further testing is needed as well as testing on other composites.
Lovisa announced an unexpected management change on Monday, 3 June, with CEO Victor Herrero stepping down in May 2025 and replaced by current Smiggle Executive John Cheston. The stock ended the session down 10.3%, but has since recovered about half of those losses
Most Covered
Ticker | Company | Short % | Prev Week | WoW % Chg |
|---|---|---|---|---|
Idp Education | 12.88% | 17.05% | -4.17% | |
Syrah Resources | 10.63% | 12.85% | -2.22% | |
Tyro Payments | 0.62% | 2.29% | -1.67% | |
Australian Clinical Labs | 8.54% | 9.93% | -1.39% | |
Flight Centre Travel | 9.71% | 10.64% | -0.93% | |
APM Human Services | 1.03% | 1.74% | -0.71% | |
Stockland | 1.08% | 1.78% | -0.70% | |
Mineral Resources | 5.50% | 6.16% | -0.66% | |
Scentre Group | 0.40% | 1.02% | -0.62% | |
Alumina | 0.41% | 0.97% | -0.56% | |
Mirvac Group | 0.84% | 1.39% | -0.55% |
Key takeaways:
Short interest flowing out of M&A and asset selldown-related names like Mineral Resources (selling 49% interest in Onslow for $1.3 billion), APM Human Services (entered into scheme implementation with Madison Dearborn) and Alumina (received regulatory approvals from Brazil and registered scheme booklet with AISC)
Tyro's an interesting one, as it was one of the worst performing Small Ords (ex-200) stocks in June, down 16.6%. But it's also got one of the most positive EPS revisions for FY24-25, according to Macquarie
