LOT hits 22.82% short as uranium shorts crowd the trade
June 2026
Shorts pushed LOT to 22.82% (+3.28%), the highest short interest in the dataset, while uranium names also stayed heavily targeted with PDN at 11.43% (+0.80%) and BOE at 14.24% (-0.09%). Outside resources, COH was the standout mover, jumping from 4.70% to 9.29% (+4.59%), while PLS saw a sharp unwind from 11.53% to 8.67% (-2.86).
This Month's Analysis
The month’s loudest signal is LOT: short interest surged from 19.54% to 22.82% (+3.28%), taking the top spot and also printing the dataset’s max short percentage at 22.82% [ref-1]. That’s not “positioning around the edges” — that’s a crowded bet, and it’s happening while the company is in and out of halts and suspension around its Kayelekera funding update [ref-2].
The top 10 is a mix of crowded growth shorts and sector-specific punches. After LOT at 22.82% (+3.28%), the next tier is DMP at 14.28% (-0.92%) and BOE at 14.24% (-0.09%) [ref-1]. TLX is still heavily shorted at 12.58% but the move was the story: it fell from 15.15% to 12.58% (-2.57%) [ref-1]. DRO (12.23%, +1.24%) and CAR (11.95%, +0.70%) both attracted fresh selling pressure despite having well-telegraphed fundamentals and reporting history on the tape [ref-1] [ref-3] [ref-4]. TWE (11.35%, -1.73%) and FLT (11.34%, +0.57%) sit side-by-side, but the direction is opposite — shorts are easing off TWE while leaning further into FLT [ref-1].
Daily Snapshots
Top Shorted Stocks This Month
Biggest Risers
Stocks with the largest increase in short interest this month.
Biggest Fallers
Stocks with the largest decrease in short interest this month.
Movers Analysis
COH was the cleanest “what are they seeing?” move: 4.70% to 9.29% (+4.59%) [ref-1]. That’s a big step-up in conviction against a large cap that just reported H1 FY2026 statutory net profit of $161.5 million (-21%) and sales revenue of $1,176.0 million (+1%) [ref-5]. ALX also saw shorts jump from 1.09% to 4.42% (+3.33%) [ref-1] as takeover paperwork and extensions kept rolling through the ASX [ref-6]. On the unwind side, CCP collapsed from 4.28% to 1.36% (-2.91%) [ref-1] after a month full of substantial holder churn and deal-related headlines around Humm discussions [ref-7]. PLS also saw meaningful covering (11.53% to 8.67%, -2.86%) [ref-1] even as it reported H1 FY2026 revenue of $624.208 million (+46.6%) and net profit of $32.820 million (+147.3%) [ref-8]. TLX’s short-covering (-2.57%) lines up with a business putting up FY2025 revenue of US$803.8 million (+56%) and guiding FY2026 Group Revenue to US$950 million to US$970 million [ref-9]. NVX was the most dramatic “get out of the way” move: 2.80% to 0.36% (-2.45%) [ref-1] in the same month it launched an institutional placement and share purchase plan [ref-10].
Industry Trends
This month reads like a rotation rather than a broad risk-off. Market-wide, the average short % is 1.51% and the WoW average change is -0.02%, so the action is concentrated in specific names [ref-1]. The uranium complex is where the crowding risk sits: LOT (22.82%, +3.28%), PDN (11.43%, +0.80%), BOE (14.24%, -0.09%) and DYL (5.74% to 8.78%, +3.04%) are all pulling attention at once [ref-1]. That’s a lot of capital leaning into one thematic bucket — and it only takes one strong catalyst to force a scramble. Meanwhile, “quality defensives” weren’t immune: COH’s jump (+4.59%) and ASX moving from 3.24% to 5.61% (+2.37%) suggest some funds are hunting for crowded longs to fade, even in names with established earnings power and reporting cadence [ref-1] [ref-11].
Outlook
Watch whether LOT’s 22.82% short position keeps building after the Kayelekera funding/suspension update cycle — or whether it snaps back violently if liquidity returns [ref-2] [ref-1]. Also keep an eye on whether COH’s 9.29% becomes a new “institutional battleground” level, because that’s a big number for a stock of its size [ref-1].
Frequently Asked Questions
Which ASX stock is the most shorted in this report?
LOT is the most shorted at 22.82%, up from 19.54% (+3.28%).
What was the biggest increase in short interest this month?
COH rose from 4.70% to 9.29%, a +4.59% increase.
What was the biggest short-covering move?
CCP fell from 4.28% to 1.36%, a -2.91% move.
Are shorts backing away from lithium exposure here?
In this dataset, PLS saw shorts fall from 11.53% to 8.67% (-2.86%).
Why might ALX short interest be rising?
ALX short interest increased from 1.09% to 4.42% (+3.33%) during a month packed with takeover offer updates and supplementary bidder/target statements.
Data sourced from ASIC short position reports (T+4 delayed). This report is for informational purposes only and does not constitute financial advice. Short selling data may not reflect real-time market conditions.