Short Sellers Don’t Believe Solar Stocks Can Continue Recent Run Higher

Photo of Paul Ausick
By Paul Ausick Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

solar energy
Thinkstock
Changes in short interest of solar stocks generally rose during the two-week period to October 31. Partly that is due to better performance by the various companies, performance that short sellers don’t think can last. We have added a solar company to our usual coverage and dropped GT Advanced Technologies Inc. (NASDAQ: GTAT), which filed for bankruptcy in early October.

First Solar Inc. (NASDAQ: FSLR) saw short interest decline by 4.1% to 8.66 million shares, which represents 11.8% of the company’s float, and days to cover rose to four. In the two-week short interest period to October 31, shares rose more than 10% but remain down about 6.7% year-to-date through Tuesday’s close at $50.99. The stock’s 52-week range is $47.04 to $74.84.

SunEdison Inc. (NYSE: SUNE) showed an increase of 10.6% in short interest to 74.84 million shares. About 30% of the company’s stock was short and days to cover rose to five. In the latest two-week short interest reporting period, shares rose nearly 32%, and they are up nearly 37% year-to-date through Tuesday night’s close. The stock closed at $17.81 in a 52-week range of $11.11 to $24.35.

SunPower Corp. (NASDAQ: SPWR) short interest rose to 10.48 million shares, or 20.1% of the company’s float. In the two-week short interest period, shares rose nearly 16% but are down about 1.5% year-to-date, after closing at $29.37 on Tuesday. The stock’s 52-week range is $25.38 to $42.07. Days to cover fell to three.

SolarCity Corp. (NASDAQ: SCTY) saw a short interest rise of 12.1% to 17.13 million shares, or 32.4% of the company’s total float. Days to cover rose to four. In the two-week short interest period, shares rose about 19%, but they are down about 10% year-to-date through Tuesday’s close. The stock’s 52-week range is $42.38 to $88.35, and shares closed at $50.96 Tuesday.

Canadian Solar Inc. (NASDAQ: CSIQ) has seen a rise of 4% in short interest in the two-week period. Some 4% of the stock, 3.5 million shares, were short, but days to cover was just one. The company’s shares were up 22% over the two weeks and are up 5.5% year-to-date. The company beat earnings estimates soundly Wednesday morning, and shares are trading up more than 7% after closing Tuesday night, at $31.47 in a 52-week range of $21.38 to $44.50.

ALSO READ: The 5 Most-Heavily Shorted Nasdaq Stocks

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

Continue Reading

Top Gaining Stocks

CBOE Vol: 1,568,143
PSKY Vol: 12,285,993
STX Vol: 7,378,346
ORCL Vol: 26,317,675
DDOG Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ Vol: 4,367,433
CLX Vol: 13,260,523
SYK Vol: 4,519,455
MHK Vol: 1,859,865
AMGN Vol: 3,818,618