These are the 10 most shorted ASX shares

Short sellers are currently targeting these ASX shares…

| More on:
Model bear in front of falling line graph, cheap stocks, cheap ASX shares

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

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) continues to be the most shorted ASX share with short interest of 17%, which is down slightly week on week. There are concerns that the market may be expecting too much too soon from the travel market recovery.
  • Betmakers Technology Group Ltd (ASX: BET) has seen its short interest remain flat at 13.5%. This betting technology company appears to have been targeted due to its lofty valuation.
  • Nanosonics Ltd (ASX: NAN) has short interest of 12.5%, which is up slightly week on week. Short sellers have been increasing their interest in this medical device company since it announced a major change to its sales model in the United States. Though, it is worth noting that last week management said the transition was going well.
  • Polynovo Ltd (ASX: PNV) has seen its short interest continue to rise to 11.3%. Short sellers have been topping up their positions despite the medical device company’s Chairman aggressively buying shares this month.
  • Webjet Limited (ASX: WEB) has short interest of 10.1%, which is up week on week. Despite Webjet expecting a big improvement in its performance in FY 2023, short sellers don’t appear confident this will be the case.
  • Appen Ltd (ASX: APX) has seen its short interest rise to 9.9%. Short sellers will be breathing a sigh of relief after a crazy week. This AI services company’s shares rocketed higher after receiving a takeover approach from Telus International. However, it gave back those gains after Telus withdrew its offer just hours after it was revealed. Appen also released a trading update which revealed a very poor performance during the first half.
  • Regis Resources Limited (ASX: RRL) has short interest of 9.2%, which is up slightly since last week. This gold miner appears to have been targeted amid concerns over labour shortages, cost pressures, and lower grades.
  • EML Payments Ltd (ASX: EML) has seen its short interest reduce to 9%. Short sellers have been going after this payments company since it revealed a deterioration in its performance during the third quarter.
  • Kogan.com Ltd (ASX: KGN) has seen its short interest reduce to 9%. Short sellers have been targeting this ecommerce company due to its poor inventory management, weakening margins, and rising competition from Amazon.
  • AMA Group Ltd (ASX: AMA) has 9% of its shares held short, which is down slightly week on week. This high level of short interest may be due to the crash repair company’s precarious balance sheet.

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 Appen Ltd, Betmakers Technology Group Ltd, EML Payments, Kogan.com ltd, Nanosonics Limited, and POLYNOVO 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.

More on Share Market News

Broker looking at the share price on her laptop with green and red points in the background.
Share Market News

5 things to watch on the ASX 200 on Monday

A busy day is expected for the ASX 200 on Monday...

Read more »

A woman sits on sofa pondering a question.
Share Market News

What goes up when the share market crashes?

If stocks are falling due to inflationary pressures, you may want to consider exchange-traded Treasury Indexed Bonds (eTIBs).

Read more »

Top 10 blank list on chalkboard
Share Market News

Here are the top 10 ASX 200 shares today

These 10 ASX 200 shares outperformed all others on Friday.

Read more »

Arrows pointing upwards with a man pointing his finger at one.
Share Market News

Here are the 3 most heavily traded ASX 200 shares on Friday

Lithium stocks are once again dominating the ASX 200's volume charts today.

Read more »

Resources Shares

ASX lithium shares facing ‘insatiable’ demand amid global funding gap

Lithium prices are up almost 500% over the past 12 months.

Read more »

a woman sits at a computer with a satisfied expression on her face in a white room with greenery outside her window.
Technology Shares

What’s happening with the Xero share price at the end of a strong week?

Xero’s new APAC leadership team will be led by newly appointed managing director, APAC, Joseph Lyons.

Read more »

A woman holds a soldering tool as she sits in front of a computer screen while working on the manufacturing of technology equipment in a laboratory environment.
Share Market News

This US investment house has made tens of millions from Brainchip. Guess which other ASX share it’s backing

Shares in the computer chip processing company have jumped 40% in the past month.

Read more »

Four ASX dividend shares investors stand in a line holding cash fanned in their hands with thoughtful looks on their faces.
Share Market News

Brokers name 2 ASX dividend shares to buy now

Brokers have named these ASX dividend shares as buys...

Read more »