The 10 most shorted ASX stocks plus the biggest risers and fallers – Week 23
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 19 and 26 May 2025
Month-on-month changes between 29 April and 19 May 2025
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 |
|---|---|---|---|---|
BOE | Boss Energy | 21.20% | -0.50% | -4.43% |
PDN | Paladin Energy | 15.30% | -0.33% | -1.10% |
MIN | Mineral Resources | 13.90% | -0.43% | 0.45% |
LTR | Liontown Resources | 12.72% | -0.04% | 0.80% |
PLS | Pilbara Minerals | 12.14% | -0.15% | 0.21% |
IEL | Idp Education | 11.96% | -0.69% | 0.28% |
DYL | Deep Yellow | 11.03% | -0.60% | -1.47% |
PNV | Polynovo | 10.61% | -0.37% | 0.45% |
KAR | Karoon Energy | 10.12% | 0.00% | 0.65% |
LIC | Lifestyle Communities | 9.99% | 0.11% | -0.31% |
Key takeaways
No major changes among the top shorted stocks
Uranium Stocks See Declining Short Interest: Short interest in uranium stocks continues to ease, driven by a recent rebound in uranium prices to a three-month high of US$72/lb, up from an eighteen-month low of US$63/lb in mid-April. President Trump’s executive order to streamline regulations and licensing for nuclear reactors and power plants in the US has spurred optimism, likely accelerating nuclear power adoption and boosting uranium demand.
Rising Shorts
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
ALK | Alkane Resources | 1.29% | ~ | 1.09% |
NUF | Nufarm | 3.03% | 2.06% | 1.52% |
CRN | Coronado Global | 3.26% | 1.15% | 1.22% |
APX | Appen | 3.66% | 1.05% | 1.94% |
TWE | Treasury Wine Estates | 8.57% | 1.01% | 1.47% |
KGN | Kogan.com | 1.73% | 0.86% | 0.67% |
LNW | Light & Wonder Inc | 1.53% | 0.83% | 0.89% |
ORA | Orora | 3.02% | 0.73% | 0.96% |
NVX | Novonix | 5.55% | 0.51% | 0.01% |
Key takeaways
Alkane Resources Logs Uptick in Short Interest: Alkane Resources, a $460 million market cap gold miner based in NSW, has seen short interest climb from zero in early May to 1.29%, the highest since October 2024. The stock has limited analyst coverage.
Nufarm’s Sharp Decline After Weak Results: Nufarm endured a 30% one-day selloff last month following a disappointing first-half FY25 result. The downturn was driven by a significant underperformance in its Seeds division, compounded by falling fish oil prices, which led to a $28 million inventory writedown and the withdrawal of prior revenue targets. With leverage rising to 4.5x net debt/EBITDA — well above target — concerns about the balance sheet have intensified. Management pointed to seasonal working capital needs and covenant-light debt, but brokers raised structural concerns, warning of potential capital raise if conditions deteriorate further. The stock has since plummeted 42% from its post-announcement level.
Rising Shorts
Ticker | Company | Short % | Week-on-Week | Month-on-Month |
|---|---|---|---|---|
MP1 | Megaport | 4.46% | -1.64% | -3.30% |
LOT | Lotus Resources | 7.75% | -0.86% | -2.62% |
CTT | Cettire | 9.84% | -0.82% | -0.05% |
IEL | Idp Education | 11.96% | -0.69% | 0.28% |
MMS | Mcmillan Shakespeare | 1.68% | -0.66% | -1.32% |
DYL | Deep Yellow | 11.03% | -0.60% | -1.47% |
ADT | Adriatic Metals Plc | 5.77% | -0.55% | -0.20% |
BOE | Boss Energy | 21.20% | -0.50% | -4.43% |
Key takeaways
Megaport Recovers: Megaport shares have returned to breakeven over the past twelve months, surging nearly 100% year-to-date after a sharp selloff in August last year. The company’s first-half FY25 results, announced on February 20, showed solid improvement in key metrics, supported by a weakening Australian dollar. Analysts viewed the results as in-line, highlighting robust sales growth driven by a revitalised sales team and accelerating customer acquisition. The stock is benefiting from an improving macro environment, particularly in the US SaaS sector, where net revenue retention (NRR) stabilised for the first time in years. This, alongside positive momentum in key metrics and favorable FX tailwinds, has fueled the sharp share price recovery.
Uranium Short Interest Trends Lower: As noted earlier, while short interest in uranium stocks remains elevated, it continues to decline steadily on both a weekly and monthly basis.