Smartkarma's AI Co-Pilot, Smartkarma

αSK

Smartkarma's AI Co-Pilot

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

<ul>
 <li>EML Payments is navigating a critical turnaround phase, addressing significant regulatory challenges, particularly in Europe, which have historically hampered growth and profitability.</li>
 <li>The company's 'EML 2.0' strategy is focused on streamlining operations, concentrating on core, higher-margin products in its General Purpose Reloadable (GPR) and Gifting segments, and divesting non-core assets like the Digital Payments business (Sentenial/Nuapay).</li>
 <li>Financial performance has been volatile, with recent years showing significant net losses and revenue pressure, though strategic changes aim to restore profitability and achieve double-digit transaction revenue growth by FY27.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  EML Payments is navigating a critical turnaround phase, addressing significant regulatory challenges, particularly in Europe, which have historically hampered growth and profitability.
  The company's 'EML 2.0' strategy is focused on streamlining operations, concentrating on core, higher-margin products in its General Purpose Reloadable (GPR) and Gifting segments, and divesting non-core assets like the Digital Payments business (Sentenial/Nuapay).
  Financial performance has been volatile, with recent years showing significant net losses and revenue pressure, though strategic changes aim to restore profitability and achieve double-digit transaction revenue growth by FY27.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: EML Payments Limited (EML AU) - Apr 2026

Asia Pac ECM and Index Rebal, DZT Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Apr 17th (reported today). The aggregated short interest was USD44.8bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Amcor, 4Dmedical Ltd, Telstra, Coles, Telix Pharmaceuticals.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Apr 17th (reported today). The aggregated short interest was USD44.8bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Amcor, 4Dmedical Ltd, Telstra, Coles, Telix Pharmaceuticals.


ASX Short Interest Weekly (Apr 17th): Amcor, 4Dmedical Ltd, Telstra, Coles, Telix Pharmaceuticals

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Australia's ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 13th April, published ~9AM on the 17th April.</li>
<li>The largest industry net increase in the past week was A$1.3bn into "Diversified Banks"; the largest industry net decrease was A$144mn out of "Oil&amp;Gas". Net shorts increased A$5.3bn week-on-week.</li>
<li>Companies mentioned in this regular weekly report include: <a href="https://www.smartkarma.com/entities/commonwealth-bank-of-australia" target="_blank" data-smartkarma-citation="entities:14:1" rel="noopener">Commonwealth Bank of Australia (CBA AU)</a>, <a href="https://www.smartkarma.com/entities/woodside-energy-group-ltd" target="_blank" data-smartkarma-citation="entities:13190:1" rel="noopener">Woodside Energy (WDS AU)</a>, <a href="https://www.smartkarma.com/entities/droneshield-ltd" target="_blank" data-smartkarma-citation="entities:30509:1" rel="noopener">DroneShield (DRO AU)</a>, <a href="https://www.smartkarma.com/entities/straits-resources-ltd" target="_blank" data-smartkarma-citation="entities:12080:1" rel="noopener">Aeris Resources (AIS AU)</a>, and <a href="https://www.smartkarma.com/entities/mcmillan-shakespeare-ltd" target="_blank" data-smartkarma-citation="entities:3023:1" rel="noopener">Mcmillan Shakespeare (MMS AU)</a>.</li>
</ul>


Australia's ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 13th April, published ~9AM on the 17th April.
The largest industry net increase in the past week was A$1.3bn into "Diversified Banks"; the largest industry net decrease was A$144mn out of "Oil&amp;Gas". Net shorts increased A$5.3bn week-on-week.
Companies mentioned in this regular weekly report include: Commonwealth Bank of Australia (CBA AU), Woodside Energy (WDS AU), DroneShield (DRO AU), Aeris Resources (AIS AU), and Mcmillan Shakespeare (MMS AU).


Aussie Shorts [13th Apr]: CBA, Woodside Energy, DroneShield, Aeris Res., Mcmillan Shakespeare

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Feb 27th (reported today). The aggregated short interest was USD37.4bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Capricorn Metals, BHP, Electro Optic Systems, Insignia Financial, Transurban.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Feb 27th (reported today). The aggregated short interest was USD37.4bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Capricorn Metals, BHP, Electro Optic Systems, Insignia Financial, Transurban.


ASX Short Interest Weekly (Feb 27th): Capricorn Metals, BHP, Electro Optic Systems

Global Special Situations & Strategy, SR Services Ltd

David Lepper

Global Special Situations & Strategy

SR Services Ltd

SR Services provides Strategic Knowledge and Solutions services for Family Offices and Corporate Business. 

We deliver this via advisory services, strategic planning, opportunity analysis/sourcing, as well as solution implementation. 

Whilst, we create intellectual discipline and operational leverage for your projects or daily activities, our ultimate objective is to empower whilst enhancing your decision making. 

Strategic Knowledge and Solutions

Cross Asset Strategy

Time to remove the upper market cap limit as risk increases.<ul>
<li>
Our screen from this quarter onwards is for all stocks<a href="applewebdata://17FB2464-550F-48C5-BBBA-E248B1412D29#_ftn1" target="_blank" rel="noopener">[1]</a> above a market capitalisation of US$500m as we now encounter possibly one of the riskier periods in our market history. With this in mind, we have removed our Small-Mid Cap focus (US$500m-US$10bn market capitalisation) from our screens. </li>
<li>
21 stocks appear in our Q3 2020 screen. The average stock rank in our list has maintained a ranking of 63.5 points compared to 68 in Q2 2020 placing the stocks lower in the second quartile of the market, suggesting deteriorating fundamentals and a strong possibility of lagging performance.</li>
<li>
As we highlighted in Q1, watch for the risk of deteriorating credit metrics over 2020: In Q3, the Altman Z score is at a market-cap-weighted 1.44 times, versus 1.31 in Q2. Whilst marginally improved, since earnings continue to be adjusted by analysts and there is limited visibility of their bottoming, the potential for a lower Z score in Q4 2020 and H1 2021is increased.</li>
</ul>

Time to remove the upper market cap limit as risk increases.

Our screen from this quarter onwards is for all stocks[1] above a market capitalisation of US$500m as we now encounter possibly one of the riskier periods in our market history. With this in mind, we have removed our Small-Mid Cap focus (US$500m-US$10bn market capitalisation) from our screens. 

21 stocks appear in our Q3 2020 screen. The average stock rank in our list has maintained a ranking of 63.5 points compared to 68 in Q2 2020 placing the stocks lower in the second quartile of the market, suggesting deteriorating fundamentals and a strong possibility of lagging performance.

As we highlighted in Q1, watch for the risk of deteriorating credit metrics over 2020: In Q3, the Altman Z score is at a market-cap-weighted 1.44 times, versus 1.31 in Q2. Whilst marginally improved, since earnings continue to be adjusted by analysts and there is limited visibility of their bottoming, the potential for a lower Z score in Q4 2020 and H1 2021is increased.


Screening the Silk Road: Q3 2020 High Risk Names to Avoid

Australia

EML Payments Limited is a financial services company that specializes in pre-paid financial cards.

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EML Payments Limited (EML AU)

Primer: EML Payments Limited (EML AU) - Apr 2026

EML Payments is navigating a critical turnaround phase, addressing significant regulatory challenges, particularly in Europe, which have...

αSK

ASX Short Interest Weekly (Apr 17th): Amcor, 4Dmedical Ltd, Telstra, Coles, Telix Pharmaceuticals

We analyzed ASX short interest report for the past week and highlight short interest changes in Amcor, 4Dmedical Ltd, Telstra, Coles, Telix...

Ke Yan, CFA, FRM

Aussie Shorts [13th Apr]: CBA, Woodside Energy, DroneShield, Aeris Res., Mcmillan Shakespeare

Companies mentioned in this regular weekly report include CBA (CBA AU), Woodside Energy (WDS AU), DroneShield (DRO AU), Aeris Resources (AIS AU),...

David Blennerhassett

ASX Short Interest Weekly (Feb 27th): Capricorn Metals, BHP, Electro Optic Systems

We analyzed ASX short interest report for the past week and highlight short interest changes in Capricorn Metals, BHP, Electro Optic Systems,...

Ke Yan, CFA, FRM

Screening the Silk Road: Q3 2020 High Risk Names to Avoid

Time to remove the upper market cap limit as risk increases. Our screen from this quarter onwards is for all stocks[1] above a market...

David Lepper

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52-week Range

Market Cap (USDm)

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Dividend (Yield)