A Quick Look at 8 Most Shorted ASX players

  • Mar 02, 2020 AEDT
  • Team Kalkine
A Quick Look at 8 Most Shorted ASX players

The total number of shares of a particular stock that have been sold short by investors, tells a lot about the overall market sentiment surrounding a particular stock by showing what short sellers are doing. We have screened 8 players on ASX which have been heavily shorted on ASX. Let’s take a look at these top shorted players on ASX.

Orocobre Limited (ASX: ORE)

Dynamic global lithium chemicals producer, Orocobre Limited Ordinary has a short interest of around 13.84% (as per the ASIC report of 25 February 2020). In the last one month, the stock price of ORE witnessed a decrease of 17.18% on ASX.

The company had recently released its H1FY20 results wherein it informed that it incurred a net loss of US$18.9 million for the period, down from a profit of US$24.1 million in the previous corresponding period and reported total production of 6,679 tonnes of lithium carbonate, up 10% on pcp with improvements in operational performance. As of 31 December 2019, the company had a cash of US$195 million.

At market close on 2 March 2020, ORE stock was trading at a price of $2.740, up by 1.481% intraday, with a market cap of around $707.16 million.

Syrah Resources Limited (ASX: SYR)

Exploration company, Syrah Resources Limited is currently trading at a price of $0.405, up by 6.579% intraday, with a market cap of around $157.2 million. The stock has a short interest of 17.12% (as per the ASIC report of 25 February 2020).

In a recent update, Syrah confirmed that it is on track to achieve target of 20% to 25% cost reduction. During the December quarter, the company reported the production of 15kt of flake graphite, lower than previous quarter, due to sudden and material reduction in prices observed in Q3 2019.

Metcash Limited (ASX: MTS)

Australia’s leading retail company, Metcash Limited has a short interest of ~11.95% (as per the ASIC report of 25 February 2020). The company had witnessed sales growth in its supermarkets business during the first half of FY20, with all states reporting an increase in the sales trajectory.

In the past three months, MTS stock price has declined by 19.02% on ASX. At market close on 2 March 2020, MTS stock was trading at a price of $2.470 with a market cap of $2.25 billion.

Webjet Limited (ASX: WEB)

Webjet Limited witnessed 43% increase in underlying EBITDA and 24% growth in revenue in the first half of FY20. Over the period, the company’s Total Transaction Value (TTV) lifted 25% to a record $2.3 billion while its WebBeds business continued to gain share as the clear #2 global B2B player.

The company’s new leadership team is now in place and currently restructuring the business to drive greater efficiencies across the 3 divisions. WEB stock has a short interest of 10.39% (as per the ASIC report of 25 February 2020). At market close on 2 March 2020, WEB stock was trading at a price of $9.490 with a market cap of $1.3 billion.

Galaxy Resources Limited (ASX: GXY)

Lithium producer, Galaxy Resources has a short interest of 19.83% (as per the ASIC report of 25 February 2020). The company recently reported its financial results for the year ended 31 December 2019 wherein it reported an annual production volume of 191,570 dry metric tonnes with total sales volume of 132,687.

For the period, the company reported Net loss after tax of USD 283.7 million. The start of 2020 has seen the company’s customer base in China affected by the impacts of the coronavirus, however, the company remains well positioned to invest in its growth project at the bottom of the commodity cycle.

At market close on 2 March 2020, GXY stock was trading at a price of $0.895, near to its 52 weeks low price of $0.815.

Blackmores Limited Ordinary (ASX: BKL)

Natural health solutions provider, Blackmores Limited Ordinary reported revenue of $303 million for the first half of FY20, down 5% on the prior corresponding period. Further, the company reported an Underlying net profit after tax of $18 million, down 48% on pcp. Notably, the company’s revenue in the China segment (key export accounts and in-country sales) was $62m, down 6% on pcp.

The company currently has a short interest of 8.03% (as per the ASIC report of 25 February 2020). At market close on 2 March 2020, BKL stock was trading at a price of $68.660, up by 6.73% intraday.

Harvey Norman Holdings Limited (ASX: HVN)

Harvey Norman Holdings Limited, operator of integrated retail, franchise, property and digital enterprise business, recently released its H1FY20 results, wherein it reported net profit after tax of $213.59 million, down by 4.1% on pcp, impacted by a decrease in the net property revaluation increment - mainly attributable to a net decrement for a residential zoned property in NSW, with no flow-on impact to the rest of the portfolio - as well as the first-time application of AASB 16 Leases.

The company currently has a short interest of 7.92% (as per the ASIC report of 25 February 2020). At market close on 2 March 2020, HVN stock was trading at a price of $3.620, down by 2.426% intraday.

GWA Group Limited (ASX: GWA)

GWA’s latest half year results were impacted by the challenging market conditions in Australia and retailer de-stocking. Despite this, the company was able to broadly maintain its EBIT margins in the Australia business. The company is positioned to capitalise on the anticipated market recovery in early FY21 and its normalised EBIT for FY20 is $80-85 million. As compared to the previous corresponding period, the company’s revenue was down by 11.5%, reflecting the decline in residential new build and renovation construction activity in Australia.

GWA has a short interest of 10.65% (as per the ASIC report of 25 February 2020).

At market close on 2 March 2020, GWA stock was trading at a price of $3.190, down by 2.446% on ASX.


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