Short sellers are targeting these ASX shares…
The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia. –
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:
Flight Centre Travel Group Ltd (ASX: FLT) remains the most shorted ASX share despite its short interest falling week on week to 10.2%. Short sellers aren’t giving up on this one despite the outlook for the travel market improving greatly in recent weeks.
Webjet Limited (ASX: WEB) has short interest of 9.3%, which is up slightly week on week. Once again, although the travel market outlook is improving greatly, short sellers are holding firm with their bearish views.
Kogan.com Ltd (ASX: KGN) has short interest of 9.2%, which down week on week. Investors appear concerned with this ecommerce company’s inventory position and global supply chain issues.
Mesoblast limited (ASX: MSB) has seen its short interest rise week on week to 9%. Short sellers appear to be targeting this biotech company due to balance sheet concerns.
Electro Optic Systems Hldg Ltd (ASX: EOS) has 8.7% of its shares held short, which is up slightly week on week. This defence and space company’s shares are under fire from short sellers due to accounting and cash generation concerns.
Zip Co Ltd (ASX: Z1P) has seen its short interest ease again to 8.7%. This morning Zip released its first quarter update and revealed another record quarterly performance. Fortunately for short sellers, its shares are falling despite its strong growth.
Redbubble Ltd (ASX: RBL) has seen its short interest rise again to 8.4%. Short sellers will have been celebrating last week after a disappointing quarterly update led to this ecommerce company’s shares crashing lower.
Inghams Group Ltd (ASX: ING) has 8.2% of its shares held short, which is up week on week. This may be due to concerns that high grain costs could be squeezing the poultry producer’s margins.
Cooper Energy Ltd (ASX: COE) has 7.4% of its shares held short, which is down week on week. Short sellers have been targeting the energy producer due to issues at its Project Sole operation.
Tassal Group Limited (ASX: TGR) has short interest of 7.1%, which is up slightly week on week. Short sellers aren’t giving up on the salmon producer despite a recent improvement in global salmon prices.
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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 shares of and has recommended Electro Optic Systems Holdings Limited, Kogan.com ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Electro Optic Systems Holdings Limited, Kogan.com ltd, and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.