Business · Markets · 6 hrs ago
Solaria and Enagás lead Ibex 35 stocks targeted by short sellers
Solaria and Enagás have the largest short positions among Ibex 35 companies, according to regulatory records cited in the story.
A short position is a bet that a share price will fall, and the positions are held by hedge funds.
Funds have short positions equal to 7.96% of Solaria’s shares, spread across eight investors.
An analyst says Solaria has had negative free cash flow for years and high debt, raising concerns about its ability to meet financial commitments.
Enagás has short positions equal to 4.53% of its shares, held by seven funds.
Its shift toward green hydrogen and a dividend cut have raised doubts about whether it can generate enough cash to sustain shareholder payments.
Investors are watching whether Enagás can deliver on hydrogen and maintain its dividend, while short sellers are betting that financial pressures could weigh on the companies’ share prices.
Solaria and Enagás have the largest short positions among Ibex 35 companies, according to records cited by Expansión.
Short positions account for 7.96% of Solaria’s share capital and 4.53% of Enagás’s.
An XTB analyst said concerns about Solaria include years of negative free cash flow and high debt.
For Enagás, short sellers are concerned about its business transformation, dividend cuts and the prospects for green hydrogen.
Fourteen other Ibex 35 companies also have short positions against them.
- Who
- Hedge funds hold short positions in Solaria, Enagás and other Ibex 35 companies.
- What
- Solaria and Enagás have the largest reported short positions among Ibex 35 stocks.
- When
- Expansión published the report on 8 November 2026; the records’ reference date is not stated.
- Where
- Spain’s Ibex 35 stock index.
- Why
- The cited analyst said short sellers have concerns about Solaria’s cash flow and debt, and Enagás’s dividend and green hydrogen prospects.
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- Solaria short positions
- 7.96% of its share capital, held by eight funds
- Enagás short positions
- 4.53% of its share capital, held by seven funds
- Other Ibex 35 companies
- 14 also have reported short positions
- Report publication
- 8 November 2026
What people are saying
investors think Solaria's financial situation may worsen
the short sellers think that if Enagás cuts its dividend again or the profitability of hydrogen is ultimately not what was expected, the shares could fall