Here are the 10 most shorted ASX shares

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:

• Betmakers Technology Group Ltd (ASX: BET) remains the most shorted share on the Australian share market with short interest of 15.9%. Short sellers aren’t giving up on this betting technology company despite its shares crashing 65% in 2022.
• Flight Centre Travel Group Ltd (ASX: FLT) has seen its short interest rise slightly to 14.6%. This travel agent giant’s shares were under pressure last week following the release of a disappointing trading update.
• Block Inc (ASX: SQ2) has seen its short interest ease to 12.2%. Interestingly, this is almost triple the short interest of the payments company’s NYSE listed shares.
• Domino’s Pizza Enterprises Ltd (ASX: DMP) has seen its short interest fall to 11.4%. This pizza chain operator’s shares have taken a hit this year after inflationary pressures weighed on its performance.
• Megaport Ltd (ASX: MP1) has seen its short interest ease to 11.1%. A softer than expected first quarter update from the network as a service operator has put significant pressure on its shares.
• Perpetual Limited (ASX: PPT) has seen its short interest drop to 9.5%. Short sellers will have been pleased to see this fund manager’s shares tumble last week after the courts pressured the company into completing its acquisition of Pendal Group Ltd (ASX: PDL). This is likely to scupper its own proposed takeover by private equity.
• Nanosonics Ltd (ASX: NAN) has short interest of 9.1%, which is up week on week again. Unfortunately for short sellers, this infection prevention company released a trading update last week which revealed strong sales growth so far in FY 2023.
• Breville Group Ltd (ASX: BRG) has seen its short interest slide to 8.8%. Short sellers may have been closing positions after the appliance manufacturer’s shares jumped following a solid first quarter update.
• St Barbara Ltd (ASX: SBM) has entered the top ten with short interest of 8.6%. This struggling gold miner’s shares have fallen almost 60% this year. Short sellers appear to believe they can keep falling.
• Temple & Webster Group Ltd (ASX: TPW) has short interest of 8.5%, which is down week on week. This may be due to concerns over a potential ecommerce slowdown.

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

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• Why A2 Milk, Cettire, Coronado, and Perpetual shares are dropping
• Why Arafura, Nanosonics, NextDC, and OZ Minerals shares are rising today
• 5 things to watch on the ASX 200 on Friday
• Why did the Flight Centre share price trounce the ASX 200 today?

Motley Fool contributor James Mickleboro has positions in Dominos Pizza Enterprises Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Betmakers Technology Group Ltd, Block, Inc., MEGAPORT FPO, Nanosonics Limited, and Temple & Webster Group Ltd. The Motley Fool Australia has positions in and has recommended Block, Inc. and Nanosonics Limited. The Motley Fool Australia has recommended Betmakers Technology Group Ltd, Dominos Pizza Enterprises Limited, Flight Centre Travel Group Limited, 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 Scott Phillips.

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