The 10 Most Shorted ASX Stocks · Week 33, 2025
11 Aug 2025 — 15 Aug 2025
Boss Energy (BOE) is now the most shorted name at 22.07%, after shorts piled in by +2.66% week-on-week (19.41% → 22.07%). The bigger shock was on the way out: Liontown (LTR) saw short interest collapse from 12.56% to 7.29% (-5.26%), with Silex (SLX) also heavily covered (13.71% → 8.94%, -4.77%). Across 626 stocks, average short interest held at 1.29% and the period average change was +0.00%.
By Shorted AI Research · Published · Sourced from official ASIC short position reports (T+4 delay). Methodology · Not financial advice.
Two trades screamed this week. One got crowded. One got unwound. BOE surged to 22.07% short (+2.66%) while LTR saw a brutal exit as shorts covered 5.26% of the register in a single week (12.56% → 7.29%).
1) BOE (22.07%, +2.66%) BOE didn’t just stay on top — it gapped higher. A +2.66% weekly lift is a statement that the market wants to be short the ramp-up phase, where timelines slip and unit costs bite. Boss’ own materials lean into the production/ramp narrative (http://www.bossenergy.com/images/media/2973720.pdf; http://www.bossenergy.com/images/documents/Dec24-Quarterly-Results-Presentation.pdf). Shorts are betting the delivery window matters more than the long-term uranium story. 2) PDN (18.39%, +0.30%) Paladin remains heavily shorted, but the move was small. That reads like “hold the line” positioning rather than fresh aggression. The debate is already well understood: uranium price sensitivity and operational execution across a broader asset base (https://www.paladinenergy.com.au/wp-content/uploads/2025/10/Paladin-2025AnnualReport-Full-Web.pdf). 3) PLS (15.34%, +0.17%) Pilbara is still the lithium anchor for the short book. The increase was marginal — crowded, but not accelerating. 4) IEL (13.62%, +0.60%) IDP keeps creeping up the worry ladder. Shorts are leaning into earnings sensitivity to student volumes, policy settings and FX — the kind of setup where guidance does the damage. 5) PNV (11.67%, -0.23%), MIN (11.54%, -1.25%), LIC (11.46%, -0.27%) These weren’t reversals; they were trims. When short interest is already high, funds cut risk quickly if the trade stops paying them. MIN’s -1.25% is the cleanest example: still heavily shorted, just less crowded than last week.
Key financial metrics from recent company reports for the most shorted stocks.
Stocks with the largest increase in short interest this week.
Stocks with the largest decrease in short interest this week.
Biggest risers (shorts adding): - BOE: 19.41% → 22.07% (+2.66%). This is the week’s loudest vote that ramp-up risk is the trade. - A4N: 2.80% → 3.94% (+1.14%). A classic pre-cashflow build short: commissioning and capital structure risk. The cluster of securities paperwork adds to the overhang narrative (e.g. “Cleansing Notice” https://alphahpa.com.au/wp-content/uploads/2025/08/2923940.pdf). - VUL: 5.19% → 6.13% (+0.94%). Another long-dated materials story attracting scepticism. - LNW: 1.08% → 2.00% (+0.92%). Still small in absolute terms, but the jump says traders are getting active in a large-cap global gaming name. - HLS: 5.21% → 6.07% (+0.86%). Diagnostics is a margin-and-volume grind; shorts tend to show up when they expect pricing pressure or cost creep to surface. HLS has FY25 materials on file (https://cdn.prod.website-files.com/65d3ca771d58856db2f0cdff/68ac369b6709ed6c04a8cd76_HLS%20FY25%20Results%20Presentation%20-%20FINAL.pdf). Biggest fallers (shorts covering): - LTR: 12.56% → 7.29% (-5.26%). That’s not a tidy rebalance — it’s an exit. When that much short interest comes off that fast, someone decided the downside wasn’t worth wearing. - SLX: 13.71% → 8.94% (-4.77%). A sharp de-crowding in a high-beta, story-driven name. Shorts don’t hang around when the tape turns. - CUV: 8.08% → 5.43% (-2.65%). Meaningful covering into a biotech with asymmetric headline risk (https://www.clinuvel.com/wp-content/uploads/2025/08/clinuvel-ar25-digital-20250828.pdf). - ALK: 3.12% → 1.63% (-1.49%). A clean reduction in a mid-cap resources name. - MIN: 12.79% → 11.54% (-1.25%). Still in the top 10, but less of a consensus short than it was.
The tape is splitting inside “energy transition” trades. Uranium is where the crowd is. BOE at 22.07% and PDN at 18.39% says the market is happy to short the operational reality after buying the narrative. Even SLX’s big cover (-4.77%) adds to the sense that positioning is being actively managed, not passively held. Lithium is where the crowd is thinning at the edges. LTR’s -5.26% unwind and MIN’s -1.25% trim look like shorts taking chips off the table, while PLS stays heavily shorted at 15.34% — the sector’s bellwether still hasn’t earned trust. Outside resources, the steady lift in IEL (to 13.62%, +0.60%) and HLS (to 6.07%, +0.86%) shows shorts also want earnings sensitivity: businesses where guidance and margins do the talking in reporting season.
Watch BOE’s next operational update: at 22.07% short, the stock is set up for a violent move on any ramp-up surprise. Second screen: whether LTR’s short interest keeps falling from 7.29% — if the covering continues, the squeeze mechanics stay in play.
Boss Energy (BOE) at 22.07% short, up from 19.41% (+2.66%) week-on-week.
Liontown Resources (LTR), down from 12.56% to 7.29% (-5.26%).
No. High short interest means a lot of investors are positioned for downside; the stock can still rise, and heavy short positioning can amplify rallies if shorts are forced to buy back.
Because ramp-ups and operational delivery are where miners most often miss expectations. This week’s BOE move (+2.66% to 22.07%) points to execution/timing risk being the focus.
It means shorts are closing positions quickly. That can be profit-taking, risk reduction, or forced covering — and it can add buying pressure while it’s happening.
Track the live rankings on the most shorted ASX stocks page, watch short squeeze candidates, or see market-wide totals in the ASX short selling statistics.
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.
