Short interest moves among solar and alternative energy stocks mostly increased during the two-week reporting period that ended on December 15. In the solar sector, three of the five companies we watch saw short interest rise. Two of four alt energy stocks also saw in increase in short interest during the period.
The continuation of federal tax incentives for alternative energy provided share price support to solar makers and installers. The alternative fuel providers had no such help.
First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 2.4% to 5.52 million shares, which represents 7.5% of the company’s float. Days to cover fell from four to two. In the two-week short interest period through December 15, the stock’s share price rose about 6.7%. Its 52-week trading range is $39.18 to $67.80, and it closed at $66.92 on Thursday, up about 1.1% for the day.
SunEdison Inc. (NYSE: SUNE) showed an increase of 3.1% in short interest, to 123.06 million shares. About 39.2% of the company’s float was short, and days to cover rose from one to two. In the latest two-week short interest reporting period, the share price rose by more than 47%. The stock closed at $5.92 last Thursday, up about 9.8% for the day, in a 52-week range of $2.55 to $33.45. After a terrible pounding in the prior short interest period, SunEdison stock got a boost from investors who appear to like the company’s new, more frugal approach.
SunPower Corp. (NASDAQ: SPWR) short interest rose by 33.1% to 9.35 million shares, or 16.3% of the company’s float. In the two weeks to December 15, the share price rose by about 1.9%. The stock’s 52-week range is $18.25 to $35.11, and it closed at $30.77 on Thursday, up about 1% for the day. Days to cover fell from six to three. The surge in short interest is likely due to the run-up in the stock price during the period. SunPower was on the way to a new 12-month high, and the return of call buyers set up well for short sellers.
SolarCity Corp. (NASDAQ: SCTY) saw short interest drop by 7.6% to 29.69 million shares, or 48.7% of the company’s total float. Days to cover fell from eight to six. In the short interest period, the share price rose about 34%. The stock’s 52-week range is $24.07 to $63.79, and shares closed at $51.98 last Thursday, up about 0.5% for the day. The extension of the federal tax incentives for alternative energy provided a real shot in the arm for SolarCity.
Canadian Solar Inc. (NASDAQ: CSIQ) saw a drop of 14% in short interest in the period. Some 13.5% of the total float, 5.74 million shares, were short, and days to cover remained unchanged at three. The company’s shares added nearly 13% over the two weeks. They closed Thursday at $29.35, up about 1.5% for the day, in a 52-week range of $14.16 to $40.08.
FuelCell Energy Inc. (NASDAQ: FCEL) had an increase of 12.1% in short interest during the two-week period. The company effected a one-for-12 reverse split on December 3, making data comparisons essentially useless. Some 3.3 million split-adjusted shares were short as of December 15, up 12.1% compared with a split-adjusted total of 2.94 million at end of the prior short interest period. The stock closed at $5.48 on Thursday, down about 0.5% for the day, in a split-adjusted 52-week range of $5.23 to $20.04.
Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 5.9% to 34.74 million shares. Days to cover rose from 16 to 23, and about 19.5% of the company’s shares were short. In the two weeks to December 15, the stock’s share price remained flat. Its 52-week range is $1.56 to $3.38, and shares closed Thursday at $2.30, up about 1.3% for the day.
Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a rise of 7.4% in short interest to 18.09 million shares. About 25.5% of the company’s float was short and days to cover fell from 17 to 11. Shares dropped about 22% in the two-week period. The stock closed at $3.80, down about 2.8%, on Thursday, in a 52-week range of $3.21 to $10.48.
Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest decline by 3.2% in the two-week period to 3.83 million shares, about 10.4% of the company’s float. Days to cover rose from three to four. The stock price rose about 2.9% in the two weeks. Shares closed at $4.78 on Thursday, down about 0.6% on the day, in a 52-week range of $3.74 to $13.70.
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