ASIC publishes daily aggregate short-selling data for all ASX-listed securities. Short interest — the percentage of a company's issued shares that are sold short — is a key indicator of market sentiment and potential for short squeezes.
Currently, 401 ASX small-cap stocks in our universe have reported short interest. The top 20 most shorted are listed below.
Most Shorted ASX Small Caps
| Ticker | Short % | Trend | Score | Sector |
|---|---|---|---|---|
| BOE | 16.3% | → Stable | 53 | Energy |
| DMP | 15.5% | → Stable | 40 | Consumer Cyclical |
| TWE | 14.0% | → Stable | 53 | Consumer Defensive |
| GYG | 13.1% | → Stable | 52 | Consumer Cyclical |
| PNV | 12.4% | → Stable | 54 | Healthcare |
| TLX | 12.0% | → Stable | 53 | Healthcare |
| IEL | 11.8% | → Stable | 56 | Consumer Defensive |
| IPH | 11.2% | → Stable | 55 | Industrials |
| FLT | 10.8% | → Stable | 59 | Consumer Cyclical |
| NAN | 10.2% | → Stable | 56 | Healthcare |
| DRO | 9.8% | → Stable | 57 | Industrials |
| PWH | 9.7% | → Stable | 65 | Consumer Cyclical |
| KAR | 9.4% | → Stable | 68 | Energy |
| LIC | 8.8% | → Stable | 50 | Real Estate |
| ILU | 8.8% | → Stable | 53 | Basic Materials |
| SLX | 8.7% | → Stable | 56 | Technology |
| ZIP | 8.6% | ↑ Rising | 60 | Financial Services |
| DGT | 7.9% | → Stable | 55 | Real Estate |
| IPX | 7.8% | → Stable | 57 | Basic Materials |
| DYL | 7.7% | → Stable | 53 | Energy |
How to Read Short Interest Data
High short interest (above 5%) can indicate bearish institutional sentiment, but it also creates conditions for a potential short squeeze if positive catalysts emerge. Stocks with declining short interest while maintaining high conviction scores may represent opportunities where the short thesis is unwinding.
Short interest data is sourced from ASIC's daily short-selling reports and cross-referenced with our multi-dimensional scoring on the SmallCapData dashboard.