Table of Contents
Welcome to the Short Seller Series
This series offers an insight into the most heavily shorted stocks on the ASX, highlighting significant fluctuations in short interest over the past week. Note that short selling data is reported with a delay of four days due to regulatory requirements.
Analysis Overview
In this recap, we will examine:
- Week-on-week changes between 6 and 16 June 2025
- Month-on-month variations between 19 May and 16 June 2025
- Key trends among the most covered and rising shorts with a week-on-week shift of 0.5% or more.
Most Shorted Stocks
| Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
| BOE | Boss Energy | 17.64% | -0.43% | -4.06% |
| PDN | Paladin Energy | 16.05% | +0.73% | +0.42% |
| MIN | Mineral Resources | 15.30% | +0.37% | +0.97% |
| PLS | Pilbara Minerals | 13.51% | +0.70% | +1.22% |
| LTR | Liontown Resources | 12.52% | +0.08% | -0.24% |
| LIC | Lifestyle Communities | 10.58% | +0.35% | +0.70% |
| PNV | Polynovo | 10.55% | -0.18% | -0.43% |
| IEL | IDP Education | 10.23% | +0.02% | -2.42% |
| SLX | Silex Systems | 9.93% | +0.02% | +0.93% |
| DYL | Deep Yellow | 9.57% | -0.95% | -2.06% |
Key Insights
- Lithium Sector Decline: Pilbara Minerals has observed a rise in short interest, increasing from 11.5% to 13.5% in mid-May. This is emblematic of waning confidence in the lithium market, impacted by notable drops in Chinese lithium carbonate futures and spodumene pricing.
Rising Shorts
| Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
| AX1 | Accent Group | 1.84% | +1.09% | +0.82% |
| PWH | PWR Holdings | 7.52% | +0.99% | +1.03% |
| MVF | Monash IVF Group | 2.65% | +0.83% | +1.16% |
| PDN | Paladin Energy | 16.05% | +0.73% | +0.42% |
| PLS | Pilbara Minerals | 13.51% | +0.70% | +1.22% |
| WAF | West African Resources | 1.10% | +0.66% | +0.40% |
| ALK | Alkane Resources | 1.87% | +0.65% | N/A |
Key Insights
- Retail Sector Struggles: Short sellers have intensified their positions against Adairs, which recently suffered a significant share price drop due to disappointing sales figures. The retailer’s response involved downgrading its earnings expectations, prompting short interest in related sectors to adjust similarly, as highlighted by Accent’s challenges with squeezed gross margins.
Most Covered Stocks
| Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
| CTT | Cettire | 5.34% | -5.31% | -5.32% |
| SGR | The Star Entertainment | 2.87% | -3.81% | -4.64% |
| KAR | Karoon Energy | 7.15% | -1.99% | -2.97% |
| INR | Ioneer | 5.17% | -1.24% | -1.08% |
| DYL | Deep Yellow | 9.57% | -0.95% | -2.06% |
| BGL | Bellevue Gold | 3.86% | -0.90% | -0.65% |
| RMS | Ramelius Resources | 6.07% | -0.84% | -0.15% |
| IPX | Iperionx | 5.35% | -0.65% | +0.02% |
| EVN | Evolution Mining | 3.83% | -0.64% | +2.56% |
| SIG | Sigma Healthcare | 2.29% | -0.63% | +1.04% |
| MSB | Mesoblast | 5.99% | -0.63% | -0.23% |
| TWE | Treasury Wine Estates | 4.38% | -0.61% | -3.18% |
| DRO | Droneshield | 2.79% | -0.57% | -1.30% |
| ORA | Orora | 2.73% | -0.50% | +0.44% |
| MTS | Metcash | 2.06% | -0.50% | -0.15% |
| APX | Appen | 3.96% | -0.50% | +1.35% |
Key Insights
-
Luxury Retail Weakness: Cettire’s stock plummeted in value, dropping nearly 50% after revealing disappointing sales growth figures. Concerns over its diminishing cash reserves reflect on short selling activity. The decrease in short interest could signify profit-taking or period-end adjustments among short sellers.
- Energy Sector Stability: As oil prices surge, a notable retreat in short positions for Karoon Energy was recorded, contrasting with the trends seen in other resource sectors.
This succinct summary of short selling activities in the ASX provides a crucial perspective for investors monitoring movement in heavily shorted stocks, aiding in informed decision-making.
