These are the 10 most shorted ASX shares

Short sellers are targeting these ASX shares…

most shorted shares webjet

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

sdf

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) remains the most shorted ASX share despite its short interest falling week on week to 10.2%. Short sellers aren't giving up on this one despite the outlook for the travel market improving greatly in recent weeks.
  • Webjet Limited (ASX: WEB) has short interest of 9.3%, which is up slightly week on week. Once again, although the travel market outlook is improving greatly, short sellers are holding firm with their bearish views.
  • Kogan.com Ltd (ASX: KGN) has short interest of 9.2%, which down week on week. Investors appear concerned with this ecommerce company's inventory position and global supply chain issues.
  • Mesoblast limited (ASX: MSB) has seen its short interest rise week on week to 9%. Short sellers appear to be targeting this biotech company due to balance sheet concerns.
  • Electro Optic Systems Hldg Ltd (ASX: EOS) has 8.7% of its shares held short, which is up slightly week on week. This defence and space company's shares are under fire from short sellers due to accounting and cash generation concerns.
  • Zip Co Ltd (ASX: Z1P) has seen its short interest ease again to 8.7%. This morning Zip released its first quarter update and revealed another record quarterly performance. Fortunately for short sellers, its shares are falling despite its strong growth.
  • Redbubble Ltd (ASX: RBL) has seen its short interest rise again to 8.4%. Short sellers will have been celebrating last week after a disappointing quarterly update led to this ecommerce company's shares crashing lower.
  • Inghams Group Ltd (ASX: ING) has 8.2% of its shares held short, which is up week on week. This may be due to concerns that high grain costs could be squeezing the poultry producer's margins.
  • Cooper Energy Ltd (ASX: COE) has 7.4% of its shares held short, which is down week on week. Short sellers have been targeting the energy producer due to issues at its Project Sole operation.
  • Tassal Group Limited (ASX: TGR) has short interest of 7.1%, which is up slightly week on week. Short sellers aren't giving up on the salmon producer despite a recent improvement in global 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, Kogan.com ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Electro Optic Systems Holdings Limited, Kogan.com 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

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors managed to ease out a gain from the markets today.

Read more »

A businessman looking at his digital tablet or strategy planning in hotel conference lobby. He is happy at achieving financial goals.
Broker Notes

Bell Potter names the best ASX shares to buy

Let's see which shares the broker is bullish on this month.

Read more »

Lion holding and screaming into a yellow loudspeaker on a blue background, symbolising an announcement from Liontown.
Share Market News

What does Macquarie think Liontown Resources shares are worth?

Is the broker bullish or bearish or something in between? Let's find out.

Read more »

Business man at desk looking out window with his arms behind his head at a view of the city and stock trends overlay.
Broker Notes

Leading brokers name 3 ASX shares to buy today

Here's why brokers believe that now could be the time to snap up these shares.

Read more »

I young woman takes a bite out of a burrito n the street outside a Mexican fast-food establishment.
Broker Notes

How much upside does Macquarie see for Collins Foods shares?

The company is scheduled to report on 24 June.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Paladin Energy, Santos, Tourism Holdings, and Woodside shares are racing higher

These shares are starting the week with a bang. But why?

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why 4DS Memory, ASX, Betr, and Northern Star shares are tumbling today

These shares are starting the week in the red. But why?

Read more »

A team in a corporate office shares a pizza while standing around a table chatting about the Domino's share price.
Broker Notes

JP Morgan upgrades Domino's Pizza shares

Does the broker expect things to turn around?

Read more »