The 10 most shorted ASX stocks plus the biggest risers and fallers – Week 25
Pilbara Minerals and IDP Education remain the most shorted stocks on the market while Strike Energy slips into the top ten.
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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 11 and 18 June 2024.
Most Shorted
Ticker | Company | Short % | WoW % Chg |
|---|---|---|---|
Pilbara Minerals | 20.73% | -0.92% | |
Idp Education | 13.70% | 0.71% | |
Liontown Resources | 11.41% | 0.74% | |
Westgold Resources | 10.73% | 0.60% | |
Sayona Mining | 9.96% | 0.25% | |
Chalice Mining | 9.53% | -0.46% | |
Syrah Resources | 9.37% | -0.63% | |
Flight Centre | 9.36% | -0.42% | |
Australian Clinical Labs | 8.67% | 0.24% | |
Strike Energy | 8.40% | 0.20% |
Interesting takeaways:
Pilbara Minerals and IDP Education remain the two most shorted stocks on the market. The two stocks have retained the top spots since early February
Strike Energy has slipped into the top ten. The company's share price plummeted by over 50% in mid-February following the unexpected failure of its South Erregulla-3 well. Despite recent price stabilisation, short interest may be increasing due to concerns about capital expenditure and funding risks associated with South Erregulla's development plans.
Rising Shorts
Ticker | Company | Short % | WoW % Chg |
|---|---|---|---|
Patriot Battery Metals | 2.05% | 1.61% | |
Chorus | 1.61% | 1.17% | |
Adriatic Metals | 1.61% | 0.95% | |
Qualitas Real Estate | 0.90% | 0.86% | |
The Star Entertainment | 4.65% | 0.76% | |
Liontown Resources | 11.41% | 0.74% | |
Idp Education | 13.70% | 0.71% | |
Westgold Resources | 10.73% | 0.60% | |
Cettire | 6.81% | 0.59% | |
Metals Acquisition | 0.79% | 0.58% |
Interesting takeaways:
Patriot Battery Metals' short interest has spiked to record levels (off a low base). This is interesting because the company is well-funded (raised C$75 million in May) and remains a potential M&A target due to its massive resource (global top 10 spodumene deposit)
Liontown will be a key lithium name to watch ahead of June quarterly reporting season. It's March quarter report said that the development of Kathleen Valley was more than 85% complete.
Most Covered
Ticker | Company | Short % | WoW % Chg |
|---|---|---|---|
Peninsula Energy | 0.20% | -1.37% | |
Black Cat Syndicate | 0.18% | -0.95% | |
Cooper Energy | 1.36% | -0.93% | |
Pilbara Minerals | 20.73% | -0.92% | |
Core Lithium | 7.52% | -0.82% | |
Lifestyle Communities | 6.17% | -0.63% | |
Syrah Resources | 9.37% | -0.63% | |
Vulcan Energy Resources | 5.61% | -0.57% | |
Integral Diagnostics | 3.59% | -0.48% | |
Chalice Mining | 9.53% | -0.46% | |
Super Retail Group | 2.18% | -0.45% | |
Temple & Webster Group | 2.09% | -0.44% | |
Flight Centre | 9.36% | -0.42% |
Interesting takeaways:
Peninsula Energy's short interest has nearly vanished, declining from early June highs of 1.70%. In May, the company successfully raised $52.9 million at 10 cents per share, a 13% discount to its last closing price. The funds will go towards development and construction activities at Peninsula's Lance Uranium Project in the US.
Integral Diagnostics experienced a sharp 35% sell-off last November after raising its full-year outlook for capital expenditure, depreciation, and costs. In recent months, the stock has gradually recovered, approaching pre-selloff levels. This recovery occurs amid growing speculation about a potential takeover offer for Integral's rival, Lumus Imaging, currently owned by Healius.
