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) continues to be the most shorted ASX share despite its short interest falling meaningfully week on week to 15.2%. There are concerns that rising living costs could impact consumer spending on leisure travel and stifle the recovery.
  • Betmakers Technology Group Ltd (ASX: BET) has seen its short interest drop to 12.6%. Short sellers won’t have been happy to see this betting technology company’s shares jump last week after announcing a share buyback.
  • Nanosonics Ltd (ASX: NAN) has short interest of 12%, which is down slightly week on week. Short sellers have been going after this medical device company due to concerns over changes to its sales model in the United States.
  • EML Payments Ltd (ASX: EML) has short interest of 10.1%, which is up meaningfully week on week. Short sellers have been loading up on this payments company’s shares since the release of a surprisingly poor trading update.
  • Block Inc (ASX: SQ2) has short interest of 9.8%, which is up week on week once again. This mirrors the short interest of the company’s shares on Wall Street.
  • Regis Resources Limited (ASX: RRL) has short interest of 8.9%, which is down slightly week on week. This short interest appears to have been driven by concerns over labour shortages, cost pressures, and lower grades.
  • PolyNovo Ltd (ASX: PNV) has seen its short interest ease to 8.8%. This medical device company’s shares are down materially over the last 12 months following a disappointing operating performance.
  • Inghams Group Ltd (ASX: ING) has 8.6% of its shares held short, which is down week on week. There are concerns that this poultry company’s profits could be squeezed by higher input costs.
  • PointsBet Holdings Ltd (ASX: PBH) has entered the top ten with short interest of 8.4%. Short sellers may be regretting this one after the sports betting company’s shares rocketed last week following a strategic investment.
  • Webjet Limited (ASX: WEB) has sneaked back into the top ten with short interest of 8.1%. Fears that cost of living pressures could delay the travel market recovery are weighing on sentiment.

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, Block, Inc., EML Payments, Nanosonics Limited, POLYNOVO FPO, and Pointsbet Holdings Ltd. The Motley Fool Australia has positions in and has recommended Block, Inc., EML Payments, and Nanosonics Limited. The Motley Fool Australia has recommended Betmakers Technology Group Ltd, Flight Centre Travel Group Limited, Pointsbet Holdings Ltd, 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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