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Short Selling
/Which ASX stocks are shorters targeting and covering this week: Lithium, gold and tech
Short Selling
Which ASX stocks are shorters targeting and covering this week: Lithium, gold and tech
By
Kerry Sun
Wed 05 Jul 23, 12:32pm (AEST)
Source: iStock
Stocks in article
Key Points
- Lake Resources falls out of the top 10 most shorted stocks (but its shares fell 43% last month)
- Genesis Minerals experiences a slight rise in short interest, which coincides with recent share price weakness
- Appen shorts begin to unwind as the stock gives back all of its AI-hype gains
Welcome back to the Short Seller Series, where we recap the most shorted stocks on the ASX as well as those experiencing notable rises, or falls, in 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 data below refers to short interest changes for stocks between 19-28 June.
Most shorted stocks
Ticker | Company | Short % | Prev | % Chg |
|---|---|---|---|---|
Flight Centre | 10.19% | 10.50% | -0.31% | |
Idp Education | 9.43% | 10.93% | -1.50% | |
Core Lithium | 9.33% | 9.00% | 0.33% | |
Lendlease | 7.88% | 7.82% | 0.06% | |
Temple & Webster | 7.83% | 7.71% | 0.12% | |
AMA Group | 7.82% | 7.92% | -0.10% | |
Select Harvests | 7.69% | 7.52% | 0.17% | |
JB Hi-Fi | 7.47% | 7.52% | -0.05% | |
Brainchip Holdings | 7.23% | 7.33% | -0.10% |
What’s changed
IDP Education shorts have eased to the lowest level since mid-June.
Lake Resources fell from #3 to #15 this week. Its short interest is down around 3% since 19 June and at levels not seen since 17 April. That said, Lake shares fell 43% in June. Most of this decline can be attributed to its plans of a two phase development for its Kachi Brine Project in Argentina.
Lake Resources 12-month price chart (Source: Market Index)
Where are shorters going?
The below table observes the stocks with the highest percentage change in short interest compared to the prior week.
Ticker | Company | Short % | Prev | % Chg |
|---|---|---|---|---|
Genesis Minerals | 2.99% | 1.23% | 1.76% | |
Coronado Global | 0.95% | 0.27% | 0.68% | |
Talga Group | 3.10% | 2.43% | 0.67% | |
Alumina | 5.74% | 5.07% | 0.67% | |
Capricorn Metals | 2.66% | 2.04% | 0.62% | |
Aurizon Holdings | 2.47% | 1.85% | 0.62% | |
29Metals | 4.91% | 4.32% | 0.59% | |
Immutep | 1.10% | 0.53% | 0.57% | |
Lynas Rare Earths | 4.42% | 3.94% | 0.48% |
The rise in Genesis Minerals shorts coincided with a 12.7% decline in share price between 20-23 June. During this time, the company advised that its shareholders voted ‘overwhelmingly’ in favour of the acquisition of St Barbara’s (ASX: SBM) Leonora assets.
Genesis Minerals 12-month price chart (Source: Market Index)
Where are shorts covering?
Ticker | Company | Short % | Prev | % Chg |
|---|---|---|---|---|
Lake Resources | 6.72% | 9.72% | -3.00% | |
Appen Ltd | 4.36% | 6.07% | -1.71% | |
Idp Education | 9.43% | 10.93% | -1.50% | |
City Chic Collective | 1.50% | 2.37% | -0.87% | |
Bank of Queensland | 5.64% | 6.35% | -0.71% | |
Australian Clinical Labs | 6.13% | 6.82% | -0.69% | |
Ramelius Resources | 1.79% | 2.38% | -0.59% | |
ST Barbara | 1.81% | 2.31% | -0.50% |
Appen shares have traded almost full circle – Briefly rallying more than 100% between 17 May and 2 June, and then tumbling 42% between 2-26 June.
Appen 3-month price chart (Source: Market Index)
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