These 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:

• 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.

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

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More reading

• 5 oversold ASX shares to buy in March 2024
• Why are ASX lithium shares being annihilated on Friday?
• Why Pilbara Minerals, Syrah Resources, Tabcorp, and Westpac shares are sinking today
• Why Beach, Clinuvel, Deep Yellow, and EML shares are charging higher today
• Why is this ASX 300 uranium stock avoiding the market selloff and racing higher?

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.

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