These are the 10 most shorted ASX shares

Short sellers are currently targeting these ASX shares…

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Once a 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 with short interest of 18.1%. This was up slightly week on week. Unfortunately for those short sellers, the Flight Centre share price surged higher last week amid improving sentiment in the travel sector.
  • Betmakers Technology Group Ltd (ASX: BET) has seen its short interest ease to 11.2%. This betting technology company’s shares have lost over 50% of their value since this time last year. Concerns over its valuation and cash burn appear to be behind this weakness.
  • Nanosonics Ltd (ASX: NAN) has short interest of 10.4%, which is down week on week again. Short sellers have been going after this infection prevention medical device company after it surprised the market with a big and disruptive change to its sales and distribution model in the United States.
  • EML Payments Ltd (ASX: EML) has seen its short interest rise slightly to 9.5%. Regulatory risks and valuation concerns may be why short sellers are targeting EML.
  • Webjet Limited (ASX: WEB) has short interest of 8.8%, which is down sharply week on week. Short sellers may be closing positions on the belief that trading conditions are now improving.
  • Polynovo Ltd (ASX: PNV) has seen its short interest ease to 8%. Short sellers appear to have closed position in this medical device company after the release of a solid trading update earlier this month.
  • Zip Co Ltd (ASX: Z1P) has seen its short interest ease to 8%. Despite short sellers closing positions, it hasn’t stopped this buy now pay later provider’s shares from continuing to slide. Last week they dropped to a multi-year low.
  • Mesoblast limited (ASX: MSB) has returned to the top ten with short interest of 7.8%. Disappointing trial results and significant cash burn have weighed heavily on this biotech’s shares.
  • Ltd (ASX: KGN) has seen its short interest fall sharply to 7.6%. Short sellers may have been closing positions on the belief that this struggling online retailer’s shares have finally found a bottom.
  • AMA Group Ltd (ASX: AMA) has 7.1% of its shares held short, which is down week on week. This crash repair company disappointed the market in February when it reported a half year loss of $46.3 million.

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 and has recommended Betmakers Technology Group Ltd, EML Payments, ltd, Nanosonics Limited, POLYNOVO FPO, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended EML Payments, ltd, and Nanosonics Limited. The Motley Fool Australia has recommended Betmakers Technology Group Ltd, Flight Centre Travel Group Limited, and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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