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:
- Boss Energy Ltd (ASX: BOE) continues to be the most shorted ASX share with short interest of 19.5%. This is down week on week again. Short sellers are sticking with this uranium producer despite plenty of positive industry news in recent weeks.
- Paladin Energy Ltd (ASX: PDN) has seen its short interest increase slightly week on week to 15.4%. Short sellers are also betting against this uranium miner despite a number of tech companies committing to nuclear power to support their artificial intelligence plans.
- Mineral Resources Ltd (ASX: MIN) has short interest of 14.6%, which is up week on week. This mining and mining services company has been battling weak commodity prices.
- Pilbara Minerals Ltd (ASX: PLS) has seen its short interest rebound to 12.8%. Short sellers have been loading up on the lithium miner's shares after Chinese spodumene prices dropped to multi-year lows.
- Liontown Resources Ltd (ASX: LTR) has short interest of 12.6%, which is down slightly week on week again. This has also been driven by weak lithium prices.
- IDP Education Ltd (ASX: IEL) has 11.5% of its shares held short, which is down week on week. Short sellers will have been pleased to see this student placement and language testing company's shares crash 53% last week following a very disappointing update.
- Deep Yellow Limited (ASX: DYL) has 10.9% of its shares held short, which is down week on week again. It is another uranium stock that short sellers have been targeting.
- Polynovo Ltd (ASX: PNV) has 10.6% of its shares held short, which is flat since last week. Short sellers appear to believe the medical device company's shares are overvalued based on its growth this year.
- Cettire Ltd (ASX: CTT) is back in the top ten with short interest of 10.5%. This has been driven by concerns that the online luxury products retailer could struggle with trade tariffs and changes to the de minimis threshold in the US.
- Lifestyle Communities Ltd (ASX: LIC) has short interest of 10%. This appears to have been driven by concerns that negative media coverage is causing headwinds for the retirement living developer.
The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.
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 and PolyNovo. The Motley Fool Australia has recommended PolyNovo. 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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