The 10 most shorted ASX stocks plus the biggest risers and fallers – Week 37
Mineral Resources' short interest has climbed to a record 9.97% despite recent cost cutting and asset sale efforts.
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 3 and 12 September 2024
Month-on-month changes between 14 August and 12 September 2024
Most Shorted
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Pilbara Minerals | 20.36% | -0.12% | -1.68% | |
Idp Education | 14.13% | 0.23% | 1.05% | |
Syrah Resources | 12.47% | -0.35% | 0.48% | |
Liontown Resources | 11.15% | 0.30% | -0.96% | |
Lynas Rare Earths | 11.05% | 0.46% | -0.19% | |
Paladin Energy | 10.83% | 0.99% | 1.77% | |
Cettire | 10.24% | 0.51% | 0.10% | |
Mineral Resources | 9.97% | 1.76% | 2.60% | |
Strike Energy | 9.88% | -0.01% | -0.72% | |
Boss Energy | 9.81% | 0.28% | 1.21% |
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
MinRes' short interest has climbed to a record 9.97%, up from 8% at the beginning of this month. The stock has rallied 22% since mid-September, buoyed by rebounding lithium prices and the approved sale of a 49% stake in its Onslow Iron project's haul road for $1.3 billion, which should alleviate its growing debt burden and strained balance sheet. Despite this recent rally, short sellers seem undeterred, continuing to bet against the stock. The short thesis is centered around China's ongoing economic weakness and limited upside for iron ore and lithium prices.
Rising Shorts
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Mineral Resources | 9.97% | 1.76% | 2.60% | |
National Storage REIT | 1.83% | 1.39% | 1.19% | |
Karoon Energy | 6.97% | 1.33% | 2.57% | |
Sigma Healthcare | 5.30% | 1.15% | 2.60% | |
Lovisa | 3.43% | 1.15% | 1.69% | |
Orora | 2.52% | 1.09% | 0.97% | |
Lotus Resources | 8.43% | 1.08% | 3.12% | |
Paladin Energy | 10.83% | 0.99% | 1.77% | |
GDI Property | 1.61% | 0.91% | 0.97% | |
Ampol | 2.64% | 0.88% | 0.78% | |
Alkane Resources | 1.32% | 0.70% | 0.09% | |
Weebit Nano | 6.26% | 0.65% | -2.35% | |
Judo Capital | 2.52% | 0.59% | 0.64% | |
IGO | 3.45% | 0.55% | 1.85% | |
Domino's | 5.34% | 0.53% | 1.12% | |
Cettire | 10.24% | 0.51% | 0.10% | |
Kelsian | 4.49% | 0.51% | 0.30% | |
Life360 | 0.57% | 0.50% | 0.48% |
National Storage REIT saw a sharp increase in short interest, albeit from a low base, the day after its pricing of $300 million in exchangeable notes at 3.625% per annum, maturing in September 2029. These funds will refinance existing debt and provide flexibility for future growth initiatives. NSR announced plans to list the notes on the Singapore Stock Exchange and reaffirmed its FY25 EPS guidance of at least 11.8 cents per share.
Thematically, short interest is growing across the uranium sector, where spot prices have declined about 13% year-to-date and the broader energy sector faces headwinds due to economic growth concerns. Short sellers are also targeting reporting season underperformers like Lovisa, Domino's, and Kelsian, as well as select outperformers such as Orora and Judo Capital.
Most Covered
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Australian Clinical Labs | 0.87% | -6.25% | -3.77% | |
Core Lithium | 4.86% | -1.02% | -1.01% | |
Westgold Resources | 1.79% | -0.86% | -6.20% | |
Capstone Copper | 1.51% | -0.82% | -1.46% | |
Challenger | 0.40% | -0.71% | -0.35% | |
Megaport | 2.33% | -0.69% | -0.46% | |
Bellevue Gold | 5.76% | -0.59% | -1.26% | |
Flight Centre Travel | 6.01% | -0.58% | -1.70% | |
Latin Resources | 1.61% | -0.56% | -0.97% | |
Corporate Travel | 4.72% | -0.50% | 1.20% |
Crescent Capital, which initially listed Australian Clinical Labs at $4 per share in 2021, recently divested its remaining 30.1% stake to existing and new investors at $3.20 per share. To execute this transaction, Crescent likely recalled any borrowed stock, leading to the observed sharp decline in short interest.
