Here are the ten most shorted shares currently on the ASX according to data provided by ASIC:
- Orocobre Limited (ASX: ORE) continues to be the most shorted share on the ASX with 20.5% of its shares held short. The lithium miner’s short interest rocketed after it made a surprising and significant cut to its annual production guidance.
- Western Areas Ltd (ASX: WSA) has seen its short interest fall to 15.5%. Short sellers appear to be targeting the company due to a sharp drop in the price of nickel futures in recent weeks.
- Aconex Ltd (ASX: ACX) has 15.3% of its shares held short. Whilst I think the software-as-a-service company has an extremely bright future, its shares are certainly expensive compared to the market average.
- Syrah Resources Ltd (ASX: SYR) has short interest of 14.8%. Short sellers continue to target the graphite miner despite it recently announcing that the commissioning of its Balama graphite project was on schedule.
- Myer Holdings Ltd (ASX: MYR) has seen short interest fall to 12.8%. It appears that speculation of a takeover offer from Premier Investments Limited (ASX: PMV) has led many short sellers to close their positions.
- Quintis Ltd (ASX: QIN) has 11.8% of its shares held short. Short sellers have been targeting the sandalwood plantation manager after its business model was compared to a Ponzi scheme by a U.S. research firm.
- Vocus Group Ltd (ASX: VOC) now has 11.1% of its shares in the hands of short sellers. With its shares down 62% in the last 12 months, I feel it could be a great time to snap up shares despite the short interest.
- Domino’s Pizza Enterprises Ltd. (ASX: DMP) has 10.7% of its shares held short. The pizza chain operator has been on the radar of short sellers since allegations of franchisees mistreating and underpaying their employees emerged.
- Nine Entertainment Co Holdings Ltd (ASX: NEC) has 10.7% of its shares held short, down again from a week earlier. Despite the high short interest, Nine Entertainment’s shares are just a fraction off their 52-week high.
- Metcash Limited (ASX: MTS) has 10% of its share in the hands of short sellers. Despite this the wholesale distribution and marketing company’s shares have rallied 28% in the last 12 months.