Insights

These are the 10 most shorted shares on the ASX

Short sellers are targeting these ASX shares…
The post These are the 10 most shorted shares on the ASX 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:

Kogan.com Ltd (ASX: KGN) continues to be the most shorted share on the ASX despite its short interest easing slightly to 11.8%. The ecommerce company’s shares have come under pressure after it revealed significant inventory issues and a slowdown in sales.

Webjet Limited (ASX: WEB) has seen its short interest rise to 10.5%. This online travel agent’s shares may have been targeted due to concerns they are overvalued at the current level. Especially with the travel market recovery taking longer than hoped.

Resolute Mining Limited (ASX: RSG) has seen its short interest remain flat at 10.4%. A number of factors have been weighing on this gold miner’s shares this year. This includes regulatory issues at its Bibiani operation in Ghana and its underwhelming production performance and guidance. It was also just dumped out of the ASX 200 index.

Temple & Webster Group Ltd (ASX: TPW) has seen its short interest ease slightly to 9.5%. This online furniture and homewares retailer recently revealed that it would be sacrificing its profit growth in order to invest heavily in its future sales growth.

Flight Centre Travel Group Ltd (ASX: FLT) has seen its short interest rise strongly to 9.4%. Concerns over its valuation and delays to the travel market recovery appear to be behind this high level of short interest.

Electro Optic Systems Hldg Ltd (ASX: EOS) has 8.8% of its shares held short, which is down week on week. This communications, defence, and space company could be being targeted by short sellers due to concerns that supply chain issues could impact its performance.

Tassal Group Limited (ASX: TGR) has short interest of 8.5%, which is down week on week. Unfortunately for short sellers, last week Goldman Sachs retained its buy rating and lifted its price target to $4.10. It notes that Tassal is set for a stronger FY 2022 with a recovery in demand for Atlantic Salmon and Prawns well underway.

Inghams Group Ltd (ASX: ING) has 7.9% of its shares held short, which is flat week on week. Short sellers are holding firm despite the poultry company’s shares recently hitting a 52-week high.

Zip Co Ltd (ASX: Z1P) has short interest of 7.5%, which is up week on week. Valuation and competition concerns may be weighing on sentiment. In respect to the latter, there are fears that a US bank will enter the BNPL market and undercut its Quadpay business.

Megaport Ltd (ASX: MP1) has short interest of 7.5%, which is down week on week once again. Valuation concerns have been weighing on this Network as a Service provider’s shares.

The post These are the 10 most shorted shares on the ASX appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

More reading

How Microsoft’s new Xbox could spur ASX data centre shares

Payright (ASX:PYR) share price jumps 5% on positive quarterly update
ASX 200 up 1%: Tech shares rise, Bank of Queensland’s provision update

4 buy-rated ASX shares for June

Here are 3 ASX shares that are cashed up

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 recommends MEGAPORT FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Kogan.com ltd, Temple & Webster Group Ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Electro Optic Systems Holdings Limited and Webjet Ltd. The Motley Fool Australia has recommended Flight Centre Travel Group Limited, Kogan.com ltd, MEGAPORT FPO, and Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!