The 10 most shorted ASX stocks plus the biggest risers and fallers – Week 26

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 18 and 25 June

• Month-on-month changes 28 May between 25 June

Most Shorted

Interesting takeaways:

• Pilbara Minerals and IDP Education: Remain the two most shorted stocks on the market. The two stocks have retained the top spots since early February

• Liontown: Short interest has climbed to near-record levels. The stock was halted on Tuesday, pending an announcement relating to funding arrangements

• Lynas: The stock experienced a sharp 17% selloff between 22 May and 28 June amid a weak backdrop for rare earth and battery metal prices. The stock experienced a 3.9% rally on Monday after the company announced plans to upgrade its Malaysia Plant to include the separation of heavy rare earth elements dysprosium (Dy) and terbium (Tb). This move would allow the group to capture greater margins by adding higher-value products to its suite

Rising Shorts

Interesting takeaways:

• Bellevue: Declared commercial production in May 2024, largely completing its initial ramp-up phase. Goldman Sachs analysts view the company favorably among mid-cap peers, citing its 200-250kozpa gold production, higher grades, and stronger margins. Despite positive cash flow in recent months, Bellevue's cash position stood at just $21.5 million as of March 31, 2024.

• Deep Yellow: Short interest has V-shaped back towards 6% from 2% a month ago. On Monday, Deep Yellow appointed Nedbank to coordinate the project financing for its flagship Tumas Project. The financing seeks to implement "the optimal level of offtake commitments required to access debt funding, whilst ensuring maximum upside uranium price exposure."

Most Covered

Interesting takeaways:

• Covering at lows: Domino's Pizza, Core Lithium, Cettire and more are all trading around 52-week lows (if not multi-year lows)