These are the 10 most shorted ASX shares

Let's see why short sellers are betting big on these ASX shares sinking deep into the red.

A business woman looks unhappy while she flies a red flag at her laptop.

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

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:

  • Pilbara Minerals Ltd (ASX: PLS) continues to be the most shorted ASX shares even though its short interest eased to 20.7%. Short sellers continue to believe that lithium prices aren't going to rebound any time soon.
  • Syrah Resources Ltd (ASX: SYR) has short interest of 16.1%, which is down week on week again. Short sellers will have been pleased to see this graphite producer's shares crash last week after raising funds for the umpteenth time.
  • IDP Education Ltd (ASX: IEL) has 11.8% of its shares held short, which is up week on week again. Regulatory changes to student visas have been weighing on this language testing and student placement company's shares.
  • Deep Yellow Limited (ASX: DYL) has seen its short interest increase to 10.7%. It seems that short sellers aren't confident that uranium prices will be as strong as the market is predicting.
  • Flight Centre Travel Group Ltd (ASX: FLT) has seen its short interest remain flat at 9.8%. Short sellers loaded up on the travel agent's shares following the release of its half-year results. They don't appear to believe the second half will be strong.
  • Genesis Minerals Ltd (ASX: GMD) has seen its short interest ease to 9%. This gold miner has been on an acquisition spree recently. Short sellers may believe there are significant integration risks on the cards.
  • Liontown Resources Ltd (ASX: LTR) has seen its short interest jump to 9%. This is despite the company announcing debt funding for the Kathleen Valley Lithium Project last week.
  • Core Lithium Ltd (ASX: CXO) has short interest of 8.5%, which is up week on week. This lithium miner's shares crashed deep into the red last week after posting a huge half-year loss.
  • Weebit Nano Ltd (ASX: WBT) has short interest of 7.8%, which is flat week on week. Valuation and revenue generation concerns are likely to be why short sellers are targeting the semiconductor company.
  • Australian Clinical Labs Ltd (ASX: ACL) has short interest of 7.8%, which is down week on week. Tough trading conditions and a poor start to FY 2024 appear to have attracted short sellers.

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 Idp Education. The Motley Fool Australia has recommended Flight Centre Travel Group and Idp Education. 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

A man has a surprised and relieved expression on his face. as he raises his hands up to his face in response to the high fluctuations in the Galileo share price today
Broker Notes

These ASX 200 shares could rise 20% to 50%

Big returns could be on the cards for owners of these shares according to analysts.

Read more »

rising gold share price represented by a green arrow on piles of gold block
Share Gainers

Here are the top 10 ASX 200 shares today

It was a horrible way to end the trading week today for ASX investors.

Read more »

Piggy bank sinking in water symbolising a record low share price.
52-Week Lows

9 ASX 200 shares tumbling to 52-week lows today

Israel's strike on Iran on Friday dragged several ASX 200 shares to new depths.

Read more »

Female miner smiling at a mine site.
Share Gainers

Up 834% in a year, guess which ASX mining stock is hitting new all-time highs today

The ASX mining stock has gone from strength to strength over the past year.

Read more »

Broker written in white with a man drawing a yellow underline.
Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A male investor wearing a blue shirt looks off to the side with a miffed look on his face as the share price declines.
Share Fallers

Why COG, Karoon Energy, Netwealth, and Pilbara Minerals shares are dropping today

These ASX shares are ending the week deep in the red. But why?

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Fiducian Group, Northern Star, Paradigm, and Santos shares are charging higher

These shares are avoiding the market selloff.

Read more »

Dollar sign in yellow with a red falling arrow in front of a graph, symbolising a falling share price.
Share Market News

Why did the ASX 200 just sink to new 2-month lows on Friday?

It’s been a rocky week for the ASX 200. But why?

Read more »