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:

• Webjet Limited (ASX: WEB) is back as the most shorted ASX share after its short interest rose to 10%. Short sellers aren’t giving up on the online travel agent despite its trading update which revealed a significant improvement in the performance of its WebBeds business.
• Flight Centre Travel Group Ltd (ASX: FLT) has seen its short interest fall slightly week on week to just under 10%. Short sellers continue to hold onto their positions despite the travel agent expecting to reach profitability again during FY 2022.
• Electro Optic Systems Hldg Ltd (ASX: EOS) has 9.2% of its shares held short, which is up week on week. Short sellers have been targeting this defence and space company due to accounting and cash generation concerns.
• Zip Co Ltd (ASX: Z1P) has seen its short interest ease week on week to 9.2%. This appears to have been driven by concerns over rising costs and increasing competition in the BNPL space.
• Kogan.com Ltd (ASX: KGN) has short interest of 8.6%, which is down week on week. This high level of short interest appears to have been driven by fears that the ecommerce company’s inventory woes will weigh on its performance for a little while longer.
• Piedmont Lithium Inc (ASX: PLL) has short interest of 8.4%, which is up since last week. Valuation and mining license approval concerns appear to be weighing on sentiment.
• Mesoblast limited (ASX: MSB) is back in the top ten with short interest of 8.1%. The biotech company is burning through cash and has warned that it may need to raise funds if deals aren’t successfully executed in FY 2022.
• Inghams Group Ltd (ASX: ING) has 8% of its shares held short, which is flat week on week. Short sellers continue to target the poultry company despite it extending its key supply contract with Woolworths Group Ltd (ASX: WOW).
• Cooper Energy Ltd (ASX: COE) has 7.7% of its shares in the hands of short sellers, which is up sharply week on week. This appears to have been driven by the poor performance of its Project Sole.
• Redbubble Ltd (ASX: RBL) is back in the top ten with short interest of 7.7%. Short sellers may be targeting this ecommerce company following a severe deceleration in its growth during the fourth quarter of FY 2021.

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

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• ASX 200 tech shares are dragging the market on Monday
• The Kogan (ASX:KGN) share price has shed 46% this year. Is it a buy?
• Zip (ASX:Z1P) share price continues slide, down 13% in a month. What’s happening?
• The Webjet (ASX:WEB) share price is nearing its 52-week high. Is now the time to buy?
• Want to invest in space? Here are 4 ASX shares

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.

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The ResApp Health Ltd (ASX: RAP) share price has been trending among investors, following its meteoric rise in recent memory.

At the time of writing, the digital health company’s shares are up an astonishing 18.92% to 8.8 cents. This means that over the past week, its shares have climbed by more than 65%, reflecting renewed investor optimism.

With no news out of the company today, let’s take a look at its latest updates to the ASX.

What did ResApp recently announce?

Looking back, ResApp provided its full-year results in late August, reporting an improvement when compared to the prior year (FY20).

For the 12 months ending 30 June, ResApp brought in revenue from a contract with customers of $69,371. This came from the launch of three new products during the year. They included ResAppDx (acute respiratory disease diagnostic tool), ResAppCC (cough counter and smartphone application), and SleepCheck (sleep apnoea screening application).

The net loss for the period stood at $6.77 million, down 20% on FY20’s net loss of $8.49 million.

ResApp retained a cash balance of $6.59 million. Net cash used in operating activities totalled $5.6 million.

However, at the start of this month, the company advised it received regulatory approval for ResAppDx in Indonesia. Another new international market following ResApp’s entry into Kenya in May 2021.

As such, ResApp partnered with the largest provider of telehealth services in the country, Alodokter to launch ResAppDx before December 2021.

ResApp CEO and managing director, Dr Tony Keating commented:

Obtaining regulatory approval in Indonesia is an important step in our partnership with Alodokter. With a population of over 270 million and a growing telehealth market, Indonesia represents an exciting opportunity for ResApp and with Alodokter we have an important partner that should see significant use of ResAppDx by doctors and their patients.

ResApp share price summary

While over the past month, investors have seen their ResApp holdings accelerate 90% in value, it has been a different story since this time last year. In fact, the company’s shares are down more than 20% from September 2020, even after this week’s wild gains.

The post ResApp (ASX:RAP) share price races 18% higher today, up 65% in a week appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The BHP Group Ltd (ASX: BHP) share price has spent most of today in the green despite reports a bill to stop its planned copper project will face the US Senate.

Resolution Copper, a joint venture that’s 45% owned by BHP and 55% owned by Rio Tinto Limited (ASX: RIO), plans to mine a copper resource located underground at Arizona’s Oak Flat.

As The Motley Fool has previously reported, Oak Flat is sacred to the region’s San Carlos Apache Tribe.

Reports emerged today that a bill named the Save Oak Flat Act was added to a domestic spending package that passed the US House of Representatives on Thursday. It will now move to the US Senate, where it may be voted into law, disallowing BHP and Rio Tinto to mine the resource.

Let’s take a closer look at today’s news regarding the resources company.

BHP might fall flat at Oak Flat

The BHP share price was posting gains all day despite news an act opposing its planned project has passed the US House of Representatives.

While BHP’s stock hasn’t been noticeably affected by the reports, the Rio Tinto share price has slipped 0.27% today.

The act notes that Resolution Copper plans to use block cave mining to retrieve copper ore from the deposit. Doing so will destroy the sacred area forever.

It also argues BHP and Rio Tinto’s planned mine will likely affect the region’s hydrology and pollute its drinking water.

According to reporting by the Australian Financial Review (AFR), the act passed the US House of Representatives on Thursday.

The Save Oak Flat Act will now face the US Senate alongside several measures. There, it might be voted into law.

The AFR states the deposit holds enough copper to supply a quarter of the US’s needs for 40 years.

BHP share price snapshot

In the last hour of trade today, BHP shares dipped into the red. Right now, the BHP shares are trading at $41.19, 0.15% lower than the previous close.

This slump is more indicative of the BHP share price lately.

It is currently 2.92% lower than it was at the start of 2021. However, it has gained 12.69% since this time last year.

The post BHP (ASX:BHP) share price lifts despite US mine doubts appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Motley Fool Australia Chief Investment Officer Scott Phillips joined Peter Overton on Nine’s Late News on Sunday night to discuss the week ahead for the economy and the stock market. Unemployment, business and consumer confidence and a speech from RBA Governor Philip Lowe are on the docket.

The post Week ahead: Jobs, confidence and RBA. Scott Phillips on Nine’s Late News appeared first on The Motley Fool Australia.

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Motley Fool contributor Scott Phillips has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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It has been a volatile start to the week for the S&P/ASX 200 Index (ASX: XJO). In afternoon trade, the benchmark index has given back its earlier gains and is down 0.1% to 7,398.7 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Afterpay Ltd (ASX: APT)

The Afterpay share price is down over 2.5% to $122.94. This follows a pullback in the Square share price on Friday night after weakness in the US tech sector. As Square’s takeover of Afterpay is being made in shares, any fluctuations in the Square share price impacts the value of the offer.

Chorus Ltd (ASX: CNU)

The Chorus share price has fallen 2% to $6.46. The catalyst for this decline has been the New Zealand based telco’s shares trading ex-dividend this morning for its 13.9 cents per share final dividend. Eligible shareholders can now look forward to being paid this dividend next month on 12 October.

National Australia Bank Ltd (ASX: NAB)

The NAB share price is down 1.5% to $28.05. Investors have been selling this banking giant’s shares after it was downgraded by analysts at Credit Suisse. According to the note, the broker has downgraded the bank’s shares to a neutral rating with a $28.50 price target. The broker made the move largely on valuation grounds after a strong gain.

Omni Bridgeway Ltd (ASX: OBL)

The Omni Bridgeway share price has continued its slide and is down a further 5% to $3.57. Investors continue to sell this litigation funder’s shares since the release of an update on the Brisbane Flood class action last week. Unfortunately for Omni Bridgeway, the Supreme Court of New South Wales Court of Appeal has found the remaining defendant not liable.

The post Why Afterpay, Chorus, NAB, & Omni Bridgeway shares are dropping appeared first on The Motley Fool Australia.

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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 AFTERPAY T FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The DevEx Resources Ltd (ASX: DEV) share price is extending its month-long run on Monday.

At the time of writing, shares in the mining exploration company are trading 15% higher to 36 cents per share. The continued momentum in the company’s share price puts its monthly gain at 40%.

Despite the impressive move, there are no fresh announcements from DevEx today.

On that note, let’s take a look at what DevEx has been up to.

Busy collecting results

DevEx is an exploration company with multiple tenements covering a range of resources. Interestingly, the company is chaired by Chalice Mining Ltd (ASX: CHN) and Liontown Resources Ltd (ASX: LTR) chairman Tim Goyder.

DevEx’s exploration activities span several discovery hot spots including the Julimar Complex in Western Australia, Lachlan Fold Belt in New South Wales, and Alligator Rivers Uranium Province in the Northern Territory. However, investors have likely been snacking on two predominant themes concerning the DevEx share price recently.

Firstly, on 17 August 2021, DevEx shared its results from an air-core drilling program at its Sovereign Project. The company highlighted a 12km long mafic-ultramafic intrusion defined by its exploration results. This finding has buoyed hopes for nickel-copper-platinum exploration in the region.

DevEx share price catches uranium surge

Secondly, the strong gust behind uranium shares has likely flowed into DevEx Resource’s sails. The small-cap explorer is not alone in this. Other ASX-listed uranium players such Peninsula Energy Ltd (ASX: PEN) and Paladin Energy Ltd (ASX: PDN) are flying 20% and 15% higher respectively.

While not quite of the same calibre in terms of market capitalisation, DevEx holds exposure to uranium with the Nabarlek Project in the Northern Territory.

The company holds a tenement covering 4,700 square kilometres in the Alligator Rivers Uranium Province. The tenement covers the historical Nabarlek uranium mine which produced 24 million pounds of ore at 1.84% U₃O₈.

Due to the improving uranium market, DevEx is conducting a project-wide review of the Nabarlek Project. This statement bodes well for the DevEx share price, considering the boom in interest from uranium investors.

The post DevEx Resources (ASX:DEV) share price surges 15%, up 40% in a month. Here’s why appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Aristocrat Leisure Limited (ASX: ALL) share price has continued its miraculous run today.

Shares in the gaming technology giant soared to a new record high today after hitting a high of $49.02.

In the past month alone, shares in Aristocrat have hit 10 new record highs.

Let’s take a look at what’s been fuelling the Aristocrat share price.

What’s propelling the Aristocrat share price?

Shares in Aristocrat have managed to shrug off COVID-19 induced lockdowns and restrictions.

Although its traditional gaming machines have struggled, the gaming giant has maintained growth through its digital gaming business.  

Aristocrat’s strong performance during turbulent times was somewhat at odds with it’s recent half-year report for FY21.

For the 6 months ending 31 March 2021, the company saw its operating revenues fall 1% to $2.23 billion.

Gross profit for the half-year also decreased 3.5% to $1.13 billion.

However, Aristocrat buoyed its report by reporting an 18.4% increase in net profit after tax (NPAT) of $362.2 million.

As noted, Aristocrat cited substantial growth in its digital segment for the increase in profits.

For the first half, 54% of group revenue was generated from the company’s digital gaming business.

In addition, the company highlighted that it ranks in the top 5 mobile game players across Tier 1 western markets.

The company did not provide guidance for the full-year, however Aristocrat’s management plans to enhance its market-leading position in casino gaming operations. In addition, the gaming giant plans to drive further growth in its digital games business.

More on the Aristocrat share price

Since the start of the year, shares in Aristocrat have soared more than 50%.

By comparison, the S&P/ASX 200 Index (ASX: XJO) has only managed to claw 12% higher in 2021.

The gaming giant expects further investment and growth in its digital bookings.

Aristocrat’s user acquisition investment is expected to be above the historic range of 25% and 28% of overall digital revenues.  

The company’s growth outlook has also been supported by numerous brokers and analysts.

Recently, leading broker Citi released a bullish outlook on the company, initiating a buy rating of a $46 share price target.

Analysts noted that Aristocrat’s digital business and traditional gaming segments are pulling together.

At the time of writing, shares in Aristocrat are currently up more than 3% for the day at a record high of $48.26.

The post The Aristocrat (ASX:ALL) share price has hit 10 new record highs in the past month appeared first on The Motley Fool Australia.

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Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Endeavour Group Ltd (ASX: EDV) share price has slipped 8.4% in just 2 weeks despite no news posted by the company.

Along with the residents of Victoria, the ACT and New South Wales, however, Endeavour’s operations have faced enduring lockdowns as COVID-19 continues to spread through communities.

Endeavour has previously noted the negative impact lockdowns have on its business, particularly its hotel segment.

Right now, the Endeavour share price is $6.67, 0.15% lower than its previous close.

Let’s take a closer look at what could be dragging on the drinks retailer and hotel operator’s share price lately.

Why is the Endeavour share price sliding?

The last fortnight has been tough for the Endeavour share price. Here’s what might be weighing on it.

The COVID-19 lockdowns, including those that have ended over the past 14 days, have possibly impacted Endeavour’s business and perhaps, its share price movement.

Endeavour experiences a unique response to COVID-19 outbreaks as its retail segment generally performs well during lockdowns while its hotel segment suffers. The company outlined the impact of the pandemic in its financial year 2021 earnings.

Endeavour reported that the company’s hotels have been hit hard. There were just 195 days in FY21 in which all of the company’s hotels were open.

And since the start of FY22, nearly every state in the country has experienced at least one lockdown, leaving many of Endeavour’s hotels shut once more.

Sydney has been in lockdown since the end of June. Melbourne was under stay-at-home orders for 12 days in July. Then, on 6 August, it was plunged into its ongoing lockdown. The ACT’s current restrictions began on 12 August.

Meanwhile, regional Victorian and New South Wales residents had lockdown restrictions lifted just last week.

However, the Endeavour share price gained 16% between the end of June and the end of August. That could suggest the company’s stock initially responded well to the lockdowns.

It’s possible the recent drop in the Endeavour share price is reflecting a simple rebalancing by the market.

The post Why the Endeavour (ASX: EDV) share price is down 8% in 2 weeks appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Aristocrat Leisure Limited (ASX: ALL)

According to a note out of Credit Suisse, its analysts have retained their outperform rating and lifted their price target on this gaming technology company’s shares to $50.30. The broker estimates that Aristocrat Leisure will pay royalties of ~$700 million to platforms such as Apple’s App Store and the Google Play Store in the current financial year. In light of this, it feels a reduction in these royalty payments due to regulatory pressures could be a big boost to its profits. The Aristocrat Leisure share price is fetching $48.22 today.

Rio Tinto Limited (ASX: RIO)

A note out of Ord Minnett reveals that its analysts have retained their buy rating but trimmed their price target on this mining giant’s shares to $150.00. The broker has reduced its iron ore forecasts and amended its earnings estimates lower to reflect this. Nevertheless, it still sees a lot of value in the Rio Tinto share price at the current level and has retained its buy rating. The Rio Tinto share price is trading at $105.98 on Monday afternoon.

Telstra Corporation Ltd (ASX: TLS)

Analysts at Goldman Sachs have retained their buy rating and lifted their price target on this telco giant’s shares to $4.40. According to the note, the broker is very positive ahead of the company’s Strategy for the Future Investor Day event this week. This strategy is expected to provide investors with an idea of its plans beyond its highly successful T22 strategy. The broker expects a continuation of the current strategy but with a tilt towards growth. The Telstra share price is fetching $3.91 today.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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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. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Talga Group Ltd (ASX: TLG) share price is accelerating today following a positive update from the technology minerals company.

At the time of writing, Talga shares are hovering 8.93% higher to a 3 month high of $1.525 apiece.

Talga explores electrification strategy

In today’s statement, Talga advised it has expanded the Memorandum of Understanding (MoU) with leading global technology leader, ABB.

Talga is building an ultra-low emission battery anode production facility and integrated graphite mining operation in Northern Sweden. It aims to use 100% renewable electricity to supply greener anode for lithium-ion batteries.

As such, Talga is seeking to electrify its underground mining operations once the expansion phase of its battery anode operations is reached. An electrification strategy will be studied under the extended MoU, focusing on adopting ABB’s Ability eMine solutions.

Under the framework, ABB will also provide its industrial automation and electrification expertise for Talga’s initial operation. In addition, both companies will work on a front-end engineering and design (FEED) in constructing the Vittangi Anode Project.

It is projected the commercial FEED stages will be completed around June 2022. Executive binding agreements with ABB are expected to take place following construction and operations.

Talga managing director, Mark Thompson commented:

We are very pleased to deepen our relationship with ABB in the development of what will be the largest integrated lithium-ion battery anode production facility in Europe.

The pursuit of innovation towards zero-emission mining is a goal we share with ABB, and we are excited to continue the expanded partnership towards construction of the Vittangi Anode Project and future expansions.

Talga share price summary

Since the beginning of the year, Talga shares have moved mostly sideways, posting a 6% loss for the period. However, when looking at the last 12 months, its share price has posted a 150% gain.

Based on today’s price, Talga commands a market capitalisation of roughly $460.9 million and has approximately 303 million shares outstanding.

The post Talga (ASX:TLG) share price surges 9% on expanded partnership agreement appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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