Short Interest in Solar Stocks Declines as Crude Oil Prices Rise

Energy

Published: February 26, 2015 8:00 am

Last Updated: April 28, 2020 4:45 am

Short interest among solar and alternative energy stocks was mixed during the two-week reporting period that ended on February 13. Solar stocks generally saw a decline in short interest, while the alternative fuel stocks mostly saw more short interest. While the link between crude oil prices and solar stocks is not terribly strong, all alt energy stocks do offer investors an opportunity for a leveraged play on oil.

First Solar Inc. (NASDAQ: FSLR) saw short interest drop by about 1.3% to 8.05 million shares, which represents 11% of the company’s float. Days to cover slipped to two. In the two-week short interest period to February 13, shares rose more than 15%. The stock’s 52-week range is $27.00 to $79.77, and it closed at $30.02 on Wednesday.

SunEdison Inc. (NYSE: SUNE) showed a decrease of 1.3% in short interest, to 78.44 million shares. About 29.2% of the company’s stock is now short, and days to cover rose to nine. In the latest two-week short interest reporting period, shares rose about 14.5%. The stock closed at $22.85 Wednesday night, in a 52-week range of $13.09 to $24.35.

SunPower Corp. (NASDAQ: SPWR) short interest fell by 0.8% to 9.87 million shares, or 18.9% of the company’s float. In the two-week short interest period, shares gained more than 17%. The stock’s 52-week range is $22.75 to $42.07, and it closed at $32.87 on Wednesday. Days to cover remained unchanged at five.

ALSO READ: The 5 Most Shorted Nasdaq Stocks in February

SolarCity Corp. (NASDAQ: SCTY) saw a short interest fall by 4.4% to 18 million shares, 32.7% of the company’s total float. Days to cover fell to nine. In the two-week short interest period, shares rose about 18.5%. The stock’s 52-week range is $45.79 to $88.23, and shares closed at $52.28 last night.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a rise of 7.7% in short interest in the two-week period to February 13. Some 10.1% of the stock, 4.2 million shares, are short, and days to cover fell to one. The company’s shares rose about 41% over the two weeks. Shares closed Wednesday at $29.73, in a 52-week range of $18.68 to $44.50.

FuelCell Energy Inc. (NASDAQ: FCEL) had a rise of 1.4% in short interest during the two-week period. About 12.9% of the company’s stock, 31.3 million shares, is short and days to cover rose to 10. In the short interest period, the shares rose more than 9%. The stock closed at $1.27 on Wednesday, in a 52-week range of $1.05 to $4.74.

Plug Power Inc. (NASDAQ: PLUG) saw short interest rise by 0.9% to 31.23 million shares. Days to cover rose to seven, and about 18.7% of the company’s shares are short. In early February, the stock’s share price rose about 18%. The stock’s 52-week range is $2.48 to $11.72, and shares closed Wednesday at $3.12.

ALSO READ: What a First Solar and SunPower Joint YieldCo Means to Investors

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 5.5% in short interest to 14.87 million shares. About 21.2% of the company’s shares are short, and days to cover slipped to nine. Shares rose about 30% in the two-week period to February 13. The stock closed at $5.25 on Tuesday, in a 52-week range of $3.99 to $11.79.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 0.4% in the two-week period to 3.66 million shares, or about 16.2% of the company’s float. Days to cover rose to four. The stock price rose more than 14% in the two weeks. The stock closed at $8.77 on Wednesday, in a 52-week range of $7.51 to $23.97.

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