These are the 10 most shorted ASX shares

Short sellers are targeting these ASX shares…

woman looks shocked at mobile phone

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

At the start of each week I like to look at ASIC's short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

  • Flight Centre Travel Group Ltd (ASX: FLT) continues to be the most shorted ASX share with short interest of 11%. Short sellers may be regretting not closing their positions sooner, though. The travel agent's shares have rallied 17% higher over the last five trading sessions.
  • Ltd (ASX: KGN) has short interest of 9.2%, which is down notably week on week. Concerns over this ecommerce company's inventory position have been weighing on Kogan's shares.
  • Webjet Limited (ASX: WEB) has short interest of 9%, which is down week on week. As with Flight Centre, the Webjet share price has been rising in recent sessions, much to the dismay of short sellers. The prospect of both state and international borders reopening in the coming months has boosted travel shares.
  • Zip Co Ltd (ASX: Z1P) has seen its short interest ease to 8.9%. News that this buy now pay later provider has made an investment in India and signed a deal with Microsoft may have spooked short sellers.
  • Electro Optic Systems Hldg Ltd (ASX: EOS) has 8.6% of its shares held short, which is down week on week. Short sellers continue to target this defence and space company due to accounting and cash generation concerns.
  • Mesoblast limited (ASX: MSB) has seen its short interest fall slightly to 8.4%. There are concerns that Mesoblast may need to raise funds again in the near future if it doesn't have significant trial success.
  • Inghams Group Ltd (ASX: ING) has 8.3% of its shares held short, which is down week on week. High grain costs could be weighing on investor sentiment.
  • Redbubble Ltd (ASX: RBL) has seen its short interest rise to 7.7%. Short sellers won't have been pleased to see Morgan Stanley initiate coverage on this ecommerce company's shares with an overweight rating and $6.50 price target today.
  • Cooper Energy Ltd (ASX: COE) has 7.7% of its shares held short, which is down week on week. Concerns over Project Sole continue to weigh on investor sentiment.
  • Tassal Group Limited (ASX: TGR) has short interest of 7.5%. Short sellers have been targeting this seafood company due to weakness in salmon prices.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and has recommended Electro Optic Systems Holdings Limited, ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Electro Optic Systems Holdings Limited, ltd, and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A woman holds her hand out under a graphic hologram image of a human brain with brightly lit segments and section points.
Share Gainers

The Brainchip share price is up 213% this month. Is Nvidia to blame?

The small cap Aussie tech stock is going bananas in 2024.

Read more »

Three exuberant runners dash towards the camera. One raises her arms in triumph; another jumps in the air with arms raised. The third runner gives a satisfied smile.
Share Market News

Here's how these 3 ASX 200 shares just earned substantial broker upgrades

Top brokers have a bullish 2024 outlook for these three ASX 200 shares.

Read more »

Digital rocket on a laptop.
Broker Notes

Is the Nvidia share price on course to reach US$1,400?

You betcha, says one analyst.

Read more »

ASX shares Business man marking buy on board and underlining it
Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A worried man holds his head and look at his computer.
Share Fallers

Why Accent, Austal, Newmont, and Sandfire shares are plunging today

These ASX shares are ending the week in the red. But why?

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Share Gainers

Why Aussie Broadband, Australian Ethical, Jumbo, and Vulcan are racing higher

These ASX shares are ending the week on a high. But why?

Read more »

A man holding a cup of coffee puts his thumb up and smiles while at laptop.
Broker Notes

Lithium and cheese: Bell Potter tips 20%+ returns from these ASX 200 stocks

Big gains could be coming from very different sides of the market.

Read more »

A smiling boy holds a toy plane aloft while a girl watches on from a car near an airport runway.
Travel Shares

Why Qantas shares could rise over 50%

The Flying Kangaroo's shares could be dirt cheap according to one broker.

Read more »