The 10 most shorted ASX stocks plus the biggest risers and fallers – Week 26
Pilbara Minerals and IDP Education remain the most shorted stocks on the market, Bellevue and Deep Yellow shorts surge amid funding concerns
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Mentioned
KEY POINTS
- Pilbara Minerals and IDP Education remain the most shorted stocks on the ASX
- Bellevue Gold and Deep Yellow face increased shorting pressure amid funding and balance sheet uncertainties
- Short interest eased across beaten up stocks trading near 52-week or multi-year lows
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 18 and 25 June
Month-on-month changes 28 May between 25 June
Most Shorted
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Pilbara Minerals | 20.81% | 0.08% | -0.91% | |
Idp Education | 13.29% | -0.41% | -3.76% | |
Liontown Resources | 11.30% | -0.11% | 1.45% | |
Flight Centre | 10.38% | 1.02% | -0.26% | |
Syrah Resources | 9.84% | 0.47% | -3.01% | |
Sayona Mining | 9.77% | -0.19% | 0.51% | |
Chalice Mining | 9.40% | -0.13% | 1.25% | |
Westgold Resources | 9.34% | -1.39% | -0.23% | |
Australian Clinical Labs | 9.12% | 0.45% | -0.81% | |
Lynas Rare Earths | 8.55% | 0.16% | 1.60% |
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
Liontown: Short interest has climbed to near-record levels. The stock was halted on Tuesday, pending an announcement relating to funding arrangements
Lynas: The stock experienced a sharp 17% selloff between 22 May and 28 June amid a weak backdrop for rare earth and battery metal prices. The stock experienced a 3.9% rally on Monday after the company announced plans to upgrade its Malaysia Plant to include the separation of heavy rare earth elements dysprosium (Dy) and terbium (Tb). This move would allow the group to capture greater margins by adding higher-value products to its suite
Rising Shorts
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Bellevue Gold | 4.94% | 2.38% | 2.19% | |
Deep Yellow | 5.43% | 1.95% | 3.23% | |
Judo Capital | 2.74% | 1.19% | 1.59% | |
Flight Centre | 10.38% | 1.02% | -0.26% | |
Karoon Energy | 2.72% | 1.01% | 1.72% | |
Dexus | 4.06% | 0.84% | 1.05% | |
Lotus Resources | 2.43% | 0.72% | 1.36% | |
Emerald Resources | 2.86% | 0.70% | 0.65% | |
Sonic Healthcare | 1.53% | 0.64% | 0.41% | |
Data#3 | 3.92% | 0.53% | 1.04% |
Interesting takeaways:
Bellevue: Declared commercial production in May 2024, largely completing its initial ramp-up phase. Goldman Sachs analysts view the company favorably among mid-cap peers, citing its 200-250kozpa gold production, higher grades, and stronger margins. Despite positive cash flow in recent months, Bellevue's cash position stood at just $21.5 million as of March 31, 2024.
Deep Yellow: Short interest has V-shaped back towards 6% from 2% a month ago. On Monday, Deep Yellow appointed Nedbank to coordinate the project financing for its flagship Tumas Project. The financing seeks to implement "the optimal level of offtake commitments required to access debt funding, whilst ensuring maximum upside uranium price exposure."
Most Covered
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Domino's Pizza | 2.95% | -2.14% | -1.71% | |
Core Lithium | 6.01% | -1.51% | -1.95% | |
Cettire | 5.33% | -1.48% | -0.87% | |
Red 5 | 0.44% | -1.41% | -0.34% | |
Westgold Resources | 9.34% | -1.39% | -0.23% | |
Pro Medicus | 2.37% | -0.77% | 0.52% | |
Nickel Industries | 2.75% | -0.70% | -0.24% | |
Bapcor | 5.42% | -0.68% | -0.82% | |
Opthea | 0.12% | -0.59% | -0.15% | |
Capricorn Metals | 1.55% | -0.58% | -0.09% | |
Qantas Airways | 2.28% | -0.57% | -0.50% | |
Lendlease | 2.23% | -0.52% | -0.70% | |
Arcadium Lithium | 1.61% | -0.52% | -0.08% |
Interesting takeaways:
Covering at lows: Domino's Pizza, Core Lithium, Cettire and more are all trading around 52-week lows (if not multi-year lows)
