The Short Report

Weekly Reports | Apr 11 2019


The Short Report draws upon data provided by the Australian Securities & Investment Commission (ASIC) to highlight significant weekly moves in short positions registered on stocks listed on the Australian Securities Exchange (ASX). Short positions in exchange-traded funds (ETF) and non-ordinary shares are not included. Short positions below 5% are not included in the table below but may be noted in the accompanying text if deemed significant.

Please take note of the Important Information provided at the end of this report. Percentage amounts in this report refer to percentage of ordinary shares on issue.

Stock codes highlighted in green have seen their short positions reduce in the week by an amount sufficient to move them into a lower percentage bracket. Stocks highlighted in red have seen their short positions increase in the week by an amount sufficient to move them into a higher percentage bracket. Moves in excess of one percentage point or more are discussed in the Movers & Shakers report below.


Week ending April 4, 2019

Last week saw the ASX200 break up through resistance at 6200 and kick on with it, helped by tailwinds of trade optimism and a well-received federal budget. What looked like a possible assault on the prior high nevertheless gave way to an equally sharp sell-off.

There was not a lot of movement in short positions last week, as the table below indicates, although there was a bias to reductions. Among those, three stand out.

I noted in last week’s Report that Silver Lake Resources ((SLR)) had appeared from nowhere at 6.4% shorted but put this down to a play on the miner’s pending merger with peer Doray Minerals ((DRM)). Last week Silver Lake dropped out again.

I noted last week investment platform Hub24 ((HUB)) had been quietly moving up the table over past weeks. Now Hub24 has fallen back to 7.3% from 9.0%. Credit Suisse put out a positive note last week, raising its target price on the stock while retaining a Neutral rating.

Which only leaves us to highlight longstanding table-topper Syrah Resources ((SYR)), which last week saw shorts fall to 15.8% from 17.4. See below.

Weekly short positions as a percentage of market cap:

ING     17.4
GXY   17.1
SYR    15.8
JBH     15.4
NUF    14.2
NXT    12.9
MTS    12.0
ORE    11.7
BAL    11.3
BWX   11.3
SDA    10.7

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