The 10 most shorted ASX stocks plus the biggest risers and fallers – Week 39
Shorters are starting to unwind their positions in lithium but targeting some of this year's top performing stocks.
Source: iStock
Mentioned
KEY POINTS
- Pilbara Minerals and IDP Education remain the two most shorted stocks on the market
- Pilbara's short interest has dipped to the lowest level since February, potentially impacted by recent Chinese stimulus news
- Short sellers are targeting some of this year's top performing stocks like Droneshield, Spartan Resources and Clarity Pharma
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 17 and 24 September 2024
Month-on-month changes between 27 August and 24 September 2024
Most Shorted
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Pilbara Minerals | 19.51% | -0.80% | -1.00% | |
Idp Education | 14.46% | 0.13% | 1.07% | |
Paladin Energy | 13.02% | 1.58% | 3.26% | |
Syrah Resources | 12.58% | 0.25% | -0.02% | |
Mineral Resources | 12.37% | 0.99% | 4.76% | |
Boss Energy | 11.26% | 0.87% | 2.38% | |
Lynas Rare Earths | 10.67% | -0.42% | -0.05% | |
Liontown Resources | 10.13% | -1.15% | -0.49% | |
Cettire | 9.06% | -2.03% | -0.40% | |
Deep Yellow | 8.87% | 0.16% | 0.56% |
Interesting takeaways:
Pilbara Minerals and IDP Education continue to hold the top two positions as the most shorted stocks on the market, a status they've maintained since early February.
Pilbara Minerals' short interest has recently dipped to its lowest level since February 12. It's worth noting that the current short selling data lags by four days, meaning it doesn't fully capture the impact of recent Chinese stimulus headlines, which have driven PLS shares up by approximately 10% over the last five trading sessions.
Cettire experienced a staggering 78% one-day rally on Tuesday, September 24. This surge triggered significant short covering, reducing short interest from 11.25% to 9.0% (equivalent to about 8 million shares covered). The stock's meteoric rise followed auditor Grant Thornton's approval of its FY24 financial statements, resolving a previous dispute over revenue reporting methods.
Rising Shorts
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Droneshield | 2.63% | 2.15% | 2.31% | |
Spartan Resources | 2.28% | 1.94% | 2.18% | |
Clarity Pharmaceuticals | 1.86% | 1.71% | 1.80% | |
Paladin Energy | 13.02% | 1.58% | 3.26% | |
Evolution Mining | 2.10% | 1.32% | 1.33% | |
Karoon Energy | 8.46% | 1.24% | 3.78% | |
AUB Group | 2.97% | 1.11% | 1.15% | |
Iperionx | 1.48% | 1.00% | 1.14% | |
Mineral Resources | 12.37% | 0.99% | 4.76% | |
Boss Energy | 11.26% | 0.87% | 2.38% |
Interesting takeaways:
Short sellers are setting their sights on some of this year's top-performing stocks, including Droneshield, Spartan Resources, and Clarity Pharmaceuticals. The latter two have seen remarkable gains, surging over 1,000% since mid-2023.
Uranium stocks remain a target for short sellers, with Paladin Energy and Boss Energy experiencing record levels of short interest, while Deep Yellow has reached its highest short interest since mid-March.
Most Covered
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
Core Lithium | 2.18% | -2.56% | -3.34% | |
Strike Energy | 7.22% | -2.35% | -3.10% | |
GDI Property | 0.54% | -2.33% | -0.12% | |
Calix | 3.23% | -2.05% | -1.32% | |
Cettire | 9.06% | -2.03% | -0.40% | |
Omni Bridgeway | 5.17% | -1.59% | -1.32% | |
Sayona Mining | 8.43% | -1.50% | -1.20% | |
Silver Mines | 0.42% | -1.41% | -0.78% | |
Southern Cross Media | 1.17% | -1.23% | -0.71% | |
Liontown Resources | 10.13% | -1.15% | -0.49% |
Interesting takeaways:
China's stimulus measures may have prompted some short covering across battered lithium stocks such as Core Lithium, Sayona, and Liontown. Despite being down 70-80% over the past year, these stocks reacted positively to the China news, potentially causing short sellers to cover or take profits on some positions. Nevertheless, short interest in Liontown and Sayona remains elevated.
