Is Short Interest in Solar Stocks Bouncing Off a Bottom?

Energy

Published: May 28, 2015 8:35 am

Last Updated: April 28, 2020 12:01 am

Short interest among solar and alternative energy stocks was mixed during the two-week reporting period that ended on May 15.

Among the alternative fuel makers, short interest fell in the natural gas fuel maker and rose for the others. That was perhaps inevitable because shares in Clean Energy Fuels were on the way to a high not seen in about 10 months.

First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by about 18.8% to 5.37 million shares, which represents 7.3% of the company’s float. Days to cover slipped to less than three. In the two-week short interest period through May 15, shares fell nearly 8.5%. The stock’s 52-week trading range is $39.18 to $73.78, and it closed at $51.28 on Wednesday, up 0.4% for the day.

SunEdison Inc. (NYSE: SUNE) showed a rise of 3.9% in short interest to 82.86 million shares. About 30.5% of the company’s float is now short, and days to cover slipped to six. In the latest reporting period, the share price rose more than 11%. The stock closed at $30.68 Wednesday, in a 52-week range of $13.09 to $30.87.

SunPower Corp. (NASDAQ: SPWR) short interest rose by 25.2% to 6.79 million shares, or 12.6% of the company’s float. In the two-week short interest period to May 15, shares slipped about 3%. The stock’s 52-week range is $22.75 to $42.07, and it closed at $31.44 on Wednesday, down about 0.8% for the day. Days to cover rose to four.

ALSO READ: The 5 Most Shorted NYSE Stocks in May

SolarCity Corp. (NASDAQ: SCTY) saw a short interest rise by 7.3% to 21.25 million shares, or 36.2% of the company’s total float. Days to cover fell to seven. In the short interest period, shares rose by about 2.2%. The stock’s 52-week range is $45.91 to $79.40, and shares closed at $61.44 Wednesday, up about 0.2% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a rise of 2.2% in short interest in the two-week period to May 15. Some 8.1% of the total float, 3.42 million shares, are short, and days to cover slipped to one. The company’s shares rose about 4.7% between the settlement dates. Shares closed Wednesday at $33.26, down about 0.2% for the day, in a 52-week range of $18.68 to $41.12.

FuelCell Energy Inc. (NASDAQ: FCEL) had a rise of 6.1% in short interest during the two-week period. About 14.1% of the company’s float, 34.53 million shares, is short and days to cover rose to 11. In the short interest period, the shares lost about 2.4%. The stock closed at $1.20 on Wednesday, up about 5.3%, in a 52-week range of $1.05 to $2.84.

Plug Power Inc. (NASDAQ: PLUG) saw short interest rise by 6.7% to 32.39 million shares. Days to cover fell to nine, and about 18.8% of the company’s shares are short. In early May, the stock’s share price rose by around 2%. Its 52-week range is $2.32 to $6.47, and shares closed Wednesday at $2.71, up nearly 5% for the day.

ALSO READ: The 5 Most Shorted Nasdaq Stocks in May

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 6.3% in short interest to 16.81 million shares. About 23.9% of the company’s float is short and days to cover fell to five. Shares fell more than 7% in the two-week period. The stock closed at $7.36 on Wednesday, in a 52-week range of $3.99 to $11.79. The share price slipped by about 0.5% Wednesday.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 15.1% in the two-week period to 5.05 million shares, about 22.3% of the company’s float. Days to cover slipped to four. The stock price rose about 6.7% in the two weeks to May 15. The stock closed at $12.01 on Wednesday, up about 2% on the day, in a 52-week range of $7.51 to $23.97.

It’s Your Money, Your Future—Own It (sponsor)

Are you ahead, or behind on retirement? For families with more than $500,000 saved for retirement, finding a financial advisor who puts your interest first can be the difference, and today it’s easier than ever. SmartAsset’s free tool matches you with up to three fiduciary financial advisors who serve your area in minutes. Each advisor has been carefully vetted and must act in your best interests. Start your search now.

If you’ve saved and built a substantial nest egg for you and your family, don’t delay; get started right here and help your retirement dreams become a retirement reality.