The 10 most shorted ASX stocks plus the biggest risers and fallers – Week 36
Short sellers piled into reporting season losers like IPH, Monash IVF and Reliance Worldwide, while covering a mixed basket of names.
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 18 and 25 August
Month-on-month changes between 28 July and 25 August
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 | 21.76% | -1.02% | 5.45% | |
Paladin Energy | 18.32% | -0.14% | 1.15% | |
Pilbara Minerals | 15.46% | 0.37% | -0.53% | |
Idp Education | 14.15% | 0.04% | 2.44% | |
Polynovo | 12.04% | -0.99% | 1.00% | |
Mineral Resources | 11.84% | 0.32% | -1.14% | |
Lifestyle Communities | 11.52% | 0.00% | -0.17% | |
Corporate Travel Management | 9.80% | -0.03% | -0.29% | |
PWR Holdings | 9.46% | 1.12% | 1.36% | |
Silex Systems | 8.98% | 0.10% | -2.23% |
Rising Shorts
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
IPH | 4.32% | 2.02% | 2.75% | |
Monash Ivf Group | 6.82% | 1.62% | 2.39% | |
Reliance Worldwide Corporation | 2.75% | 1.40% | 1.47% | |
Inghams Group | 2.04% | 1.22% | 1.10% | |
Lake Resources | 1.71% | 1.15% | 1.15% | |
PWR Holdings | 9.46% | 1.12% | 1.36% | |
Megaport | 3.22% | 0.92% | 1.00% | |
Telix Pharmaceuticals | 6.06% | 0.77% | 0.47% | |
Peninsula Energy | 5.92% | 0.73% | 0.73% | |
NUIX | 3.63% | 0.62% | 0.99% | |
Bluescope Steel | 2.80% | 0.60% | -0.15% | |
Generation Development Group | 1.31% | 0.59% | 0.14% | |
Skycity Entertainment Group | 3.66% | 0.56% | 0.56% | |
HMC Capital | 2.85% | 0.52% | 0.76% | |
Clarity Pharmaceuticals | 7.07% | 0.50% | -2.94% |
Key takeaways
IPH's short interest surged to record levels, jumping from ~1.5% to 4.80% following disappointing FY25 earnings on 21 August. The company flagged persistent ANZ market share losses, weaker US PCT filings, and slower-than-expected Asian recovery, partially offset by strong Canadian performance and cost-out initiatives. The stock plunged 19.5% on results day, though analysts note IPH's valuation appears relatively undemanding despite ongoing structural and regional challenges.
Monash IVF experienced a similar short interest spike, rising from around 5% pre-results to just over 7.0%. While FY25 numbers met market expectations, FY26 NPAT guidance of $20-23 million fell well short of the $26.6 million consensus. Market confidence remains severely dented following the recent embryo incidents, with the company reporting a 10% decline in new patient registrations that will impact FY26 earnings by $1-2 million.
Reliance Worldwide dropped 6.7% on results day as management warned that ongoing headwinds from tariffs and weaker US housing and renovation activity will persist into the first half of FY26.
Inghams suffered a brutal 20% selloff on Friday, 22 August after FY25 results missed on revenue, NPAT and dividend expectations. The disappointment stemmed from a soft June quarter featuring lower-margin product mix, weaker wholesale pricing, and softer retail demand. Adding to concerns, management's FY26 guidance pointed to year-on-year earnings decline with heavy reliance on a second-half recovery.
Bottom line: Short sellers are targeting companies that missed market expectations, particularly those providing disappointing FY26 guidance.
Most Covered
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Clinuvel Pharmaceuticals | 5.30% | -2.79% | -0.08% | |
Novonix | 2.97% | -1.88% | -1.49% | |
Arafura Rare Earths | 1.81% | -1.47% | -1.14% | |
Temple & Webster Group | 1.28% | -1.40% | -1.15% | |
IGO | 4.07% | -1.37% | -3.05% | |
Alpha HPA | 2.76% | -1.17% | -0.05% | |
Boss Energy | 21.76% | -1.02% | 5.45% | |
Polynovo | 12.04% | -0.99% | 1.00% | |
Zip | 2.93% | -0.99% | -0.98% | |
WA1 Resources | 1.16% | -0.94% | -0.75% | |
Domain Holdings Australia | 0.66% | -0.94% | -0.44% | |
Lynas Rare Earths | 3.15% | -0.87% | -2.55% | |
Audinate Group | 4.85% | -0.83% | 0.03% | |
Origin Energy | 0.98% | -0.83% | -0.66% | |
Magnetic Resources | 0.06% | -0.73% | -0.55% | |
The Lottery Corporation | 0.92% | -0.62% | -0.91% | |
Avita Medical Inc | 0.18% | -0.54% | -0.08% | |
Fletcher Building | 2.19% | -0.53% | 0.06% | |
Digico Infrastructure REIT | 4.30% | -0.52% | -0.26% | |
Super Retail Group | 1.59% | -0.52% | -0.84% | |
Adairs | 0.96% | -0.51% | -0.73% |
Key takeaways
Short covering activity occurring across unprofitable, speculative names including Clinuvel, Novonix, Arafura Rare Earths, and Alpha HPA. Though divergent recent performance, with Clinuvel shares smashed, others have remained relatively flat.
Modest short covering among reporting season winners such as Zip, The Lottery Corp, and Super Retail Group. The one-day price rally may have squeezed some marginal short sellers out of the stock.
Interestingly, some covering activity has emerged around reporting season disappointments including IGO, Audinate, Origin Energy, and Digico.
