ASX Short Sellers Zero In on Uranium Stocks and James Hardie Amid Market Tension
Hey everyone, just wanted to talk about some interesting shifts happening on the ASX right now, especially around short-selling activity. It's clear that investor sentiment is getting a bit shaky, and a lot of attention is turning toward uranium stocks and big players like James Hardie.
Between March 24 and April 7, we’ve seen a sharp uptick in short interest across multiple uranium-focused companies. Boss Energy stood out with a massive short position of 25.6%—that’s a pretty significant chunk, and it’s up over 3% for the month. Paladin Energy followed with a 16.7% short interest, and even though its monthly figure dipped slightly, the weekly rise suggests ongoing uncertainty. Deep Yellow and Lotus Resources are also seeing double-digit short interest, with Lotus showing the highest monthly increase at 4.05%. It’s a clear signal that traders are positioning themselves against these uranium developers, likely due to the unpredictable demand outlook for nuclear energy in the current economic climate.
Now, shifting over to James Hardie—this one is particularly interesting. The company made a move to acquire the US-based AZEK, but instead of boosting confidence, it actually spooked investors. Short interest jumped by 3.4% in a week, landing at 7.38%. Analysts from Macquarie are sounding the alarm, citing valuation concerns. Apparently, the deal comes in at around 6 times price-to-book, and over half of AZEK’s assets are intangible. That’s not sitting well with shareholders, who are now pushing for a re-evaluation of the acquisition approval. The fear is this could set a worrying precedent in Australian markets if the deal gets waved through without scrutiny.
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Elsewhere on the ASX, Cettire saw short interest rise to 10.26%, largely due to trade tensions. With 41% of its recent sales tied to EU-manufactured goods heading to the US—and an average order value just over the US$800 tariff threshold—investors are nervous about added costs impacting margins.
Even A2 Milk wasn’t spared. Despite delivering strong year-to-date gains of 43%, it still saw an uptick in short positions, showing that not everyone is convinced the growth is sustainable. Other notable mentions include Liontown Resources, Clarity Pharmaceuticals, and Austal—all with rising short interest pointing to bearish bets against smaller-cap stocks.
On the flip side, there’s been some short covering too. Domino’s had a significant drop in short interest—down 1.96%—and actually finished the week up by over 7%. Breville, Web Travel Group, and ARB Corporation also saw shorts pull back a bit. Still, they remain under pressure due to earnings uncertainty and the looming threat of trade tariffs.
And lastly, Pilbara Minerals saw a bit of a mixed bag, with short interest dipping slightly over the week but still trending up for the month. The lithium space, like uranium, is also in this strange spot where volatility rules and investor positions shift rapidly.
All in all, what we’re seeing right now is a market that’s highly reactive to global trade dynamics, acquisition strategies, and valuation risks. Whether it’s uranium, building materials, or tech-adjacent sectors, short sellers are moving fast—and if you’re an investor, this kind of activity can be a valuable pulse check on where caution is rising. Let’s see how it all plays out in the coming weeks.
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