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 to be the most shorted ASX share despite its short interest easing to 17%. The Flight Centre share price is up 23% in 2022 but short sellers don’t appear to believe these gains will last.
  • Betmakers Technology Group Ltd (ASX: BET) has seen its short interest rise to 13.2%. This betting technology company’s shares are trading within a whisker of a 52-week low amid concerns over its valuation and cash burn.
  • Nanosonics Ltd (ASX: NAN) has short interest of 11.9%, which is down slightly week on week. Short sellers have been going after this medical device company since it announced a major change to its sales model in the United States.
  • Polynovo Ltd (ASX: PNV) has seen its short interest rise again to 10%. Valuation concerns and an inconsistent performance appear to be weighing on this medical device company’s shares.
  • Webjet Limited (ASX: WEB) has short interest of 9.7%, which is down week on week. Short sellers may believe the market is too bullish on the travel market recovery.
  • Kogan.com Ltd (ASX: KGN) has seen its short interest climb again to 9.6%. Short sellers will have been celebrating last week after another disappointing update sent this ecommerce company’s shares crashing to a multi-year low.
  • Zip Co Ltd (ASX: Z1P) has seen its short interest fall to 8.9%. This buy now pay later provider’s shares also dropped to a multi-year low last week, much to the delight of short sellers.
  • EML Payments Ltd (ASX: EML) has seen its short interest ease to 8.7%. This payments company’s shares crashed lower last week after it downgraded its profit guidance following a tough third quarter.
  • AMA Group Ltd (ASX: AMA) has 8.7% of its shares held short, which is up slightly week on week. This crash repair company disappointed the market earlier this year with a half year loss of $46.3 million.
  • Mesoblast limited (ASX: MSB) has seen its short interest edge higher to 8%. Short sellers have been targeting this biotech amid disappointing trial results and significant cash burn.

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. has positions in and has recommended Betmakers Technology Group Ltd, EML Payments, Kogan.com ltd, Nanosonics Limited, POLYNOVO FPO, and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended EML Payments, Kogan.com 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 Scott Phillips.

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