News
Top 10 Shorted ASX Stocks + Big Winners and Losers – Week 28
investing news
2025-12-15 01:31:51
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 23 and 30 June 2025
-
Month-on-month changes between 26 May and 30 June 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 |
|---|---|---|---|---|
|
PDN |
Paladin Energy |
16.03% |
0.10% |
0.73% |
|
BOE |
Boss Energy |
15.07% |
-1.42% |
-6.13% |
|
MIN |
Mineral Resources |
13.84% |
-0.16% |
-0.06% |
|
PLS |
Pilbara Minerals |
13.23% |
0.03% |
1.09% |
|
LTR |
Liontown Resources |
12.59% |
-0.06% |
-0.13% |
|
IEL |
IDP Education |
11.48% |
1.29% |
-0.48% |
|
SLX |
Silex Systems |
11.21% |
-0.14% |
1.95% |
|
PNV |
Polynovo |
10.67% |
0.07% |
0.06% |
|
LIC |
Lifestyle Communities |
10.04% |
-0.12% |
0.05% |
|
JHX |
James Hardie Industries |
9.59% |
2.45% |
2.75% |
Key takeaways
-
Short interest in Boss Energy continues to decline, falling to 15.07% from 19.75% a month ago and April highs of around 25%. This trend persists despite recent weakness, with shares down roughly 15% in July.
-
IDP Education’s short interest has rebounded to near one-month highs after dropping from 13% to 9.9% between mid-May and mid-June. The renewed bearish interest follows the stock’s 48% single-day plunge on June 3rd, triggered by management’s warning that student placement volumes would fall 28-30% year-on-year in FY25, pushing EBIT guidance to $115-125 million or 25-30% below analyst expectations. The rising short interest likely reflects ongoing execution risks, earnings uncertainty, and potential index exclusion concerns.
-
James Hardie has entered the top 10, likely driven by Azek shareholders approving the takeover. While Macquarie highlighted AZEK’s strategic appeal, including strong historical growth, penetration opportunities, and addressing James Hardie’s trim product weakness, the analysts flagged valuation concerns. Paying approximately 6x price-to-book for an asset with 52% intangible assets could dilute James Hardie’s exceptional return profile, potentially undermining the company’s investment thesis despite its formidable 55% return on capital employed last year.
Rising Shorts
|
Ticker |
Company |
Short % |
Week-on-Week |
Month-on-Month |
|---|---|---|---|---|
|
JHX |
James Hardie Industries |
9.59% |
2.45% |
2.75% |
|
IEL |
IDP Education |
11.48% |
1.29% |
-0.48% |
|
IDX |
Integral Diagnostics |
3.68% |
1.10% |
1.36% |
|
ADH |
Adairs |
2.08% |
0.86% |
0.88% |
|
SGR |
The Star Entertainment |
2.70% |
0.75% |
-4.70% |
|
WGX |
Westgold Resources |
2.29% |
0.56% |
0.27% |
|
WHC |
Whitehaven Coal |
6.24% |
0.52% |
0.88% |
|
FLT |
Flight Centre Travel |
5.52% |
0.52% |
1.05% |
Key takeaways
-
No major highlights outside of James Hardie and IDP Education
Most covered
|
Ticker |
Company |
Short % |
Week-on-Week |
Month-on-Month |
|---|---|---|---|---|
|
DMP |
Domino’s Pizza |
6.03% |
-2.70% |
-3.61% |
|
ADT |
Adriatic Metals |
2.92% |
-2.64% |
-2.85% |
|
CKF |
Collins Foods |
1.95% |
-2.62% |
-2.85% |
|
BMN |
Bannerman Energy |
5.41% |
-2.25% |
-2.73% |
|
BOE |
Boss Energy |
15.07% |
-1.42% |
-6.13% |
|
AGE |
Alligator Energy |
0.25% |
-1.41% |
-0.07% |
|
CU6 |
Clarity Pharmaceuticals |
6.65% |
-0.96% |
-2.19% |
|
RMS |
Ramelius Resources |
6.34% |
-0.79% |
-0.10% |
|
HUM |
Humm Group |
0.75% |
-0.74% |
-0.28% |
|
PNI |
Pinnacle Investment Management |
1.76% |
-0.59% |
-0.60% |
|
DVP |
Develop Global |
1.31% |
-0.59% |
-0.67% |
|
NST |
Northern Star Resources |
0.43% |
-0.56% |
-0.18% |
|
NEU |
Neuren Pharmaceuticals |
5.50% |
-0.53% |
-0.74% |
Key takeaways
-
Domino’s Pizza saw short interest fall sharply to October 2024 lows, down from January peaks of 13.5%. However, this data predates the company’s July 2nd announcement of CEO Mark van Dyck’s unexpected resignation, effective December 2025, after less than a year in the role. The leadership exodus, which also included departures of Japan CEO Martin Steenks, ANZ CEO Kerri Hayman, and Group CFO Richard Coney. The stock finished the 2 July session down 15.7%.
-
Short interest in Adriatic Metals is likely retreating following Dundee Precious Metals’ mid-June takeover offer valued at $5.56 per share as well as higher silver prices (up 25% year-to-date to 14 year highs)
-
Collins Foods appears to have squeezed bearish shorts after rallying 17.4% on June 25th. The company’s better-than-expected FY25 results showed EBITDA margins exceeding guidance despite flat revenue, with analysts crediting cost deflation and productivity gains, particularly in Australia where digital adoption and operational improvements boosted margins.
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