Energy
Short Sellers Picking Their Spots in Solar, Alt Energy Sectors
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Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on April 15. In the solar sector, two of the five companies we watch saw short interest drop, and one filed for bankruptcy. Two of four alt energy stocks also saw a decrease in short interest during the period.
When SunEdison finally filed for bankruptcy on April 21, shares began trading over-the-counter on the Pink market under the ticker symbol SUNEQ. Up through April 15, short interest in the stock totaled 109.12 million shares. We will no longer include SunEdison in our short interest coverage.
First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 10% to 4.85 million shares, which represents 6.5% of the company’s float. Days to cover fell from three to two. In the two-week short interest period, the stock’s share price tumbled by about 13.6%. The stock’s 52-week range is $40.25 to $74.29, and it closed at $61.24 on Tuesday, up about 1.4% for the day.
SunPower Corp. (NASDAQ: SPWR) short interest rose by 4.8% to 13.25 million shares, or 23.1% of the company’s float. In the short interest period to April 15, the share price fell by about 6.8%. The stock’s 52-week range is $18.25 to $33.70, and it closed at $21.93 on Tuesday, up about 2.3% for the day. Days to cover remained unchanged at seven.
Canadian Solar Inc. (NASDAQ: CSIQ) saw an increase of 6.3% in short interest during the two-week period. Some 11.6% of the total float, 4.95 million shares, were short, and days to cover were unchanged at three. The company’s shares fell more than 7% over the period. Shares closed Tuesday at $18.74, up about 2.5% for the day, in a 52-week range of $14.16 to $40.08.
FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 0.6% in short interest during the two-week period. Some 3.47 million shares were short as of April 15. The stock closed at $6.64 on Tuesday, up about 0.9% for the day, in a 52-week range of $4.51 to $15.72. Shares added about 3.6% in the short interest period, and days to cover rose from five to nine.
Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 11% to 29.97 million shares. Days to cover rose from 17 to 23, and about 16.8% of the company’s shares were short. In the two weeks to April 15, the stock’s share price rose by about 1.9%. Its 52-week range is $1.30 to $2.98, and shares closed most recently at $2.14, down about 0.5% for the day.
Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a decrease of 12.6% in short interest to 11.31 million shares. About 14.6% of the company’s float was short and days to cover fell from nine to seven. Shares rose by about 2% in the two-week period. The stock closed at $2.86, down about 2.4% on Tuesday, in a 52-week range of $2.15 to $10.48.
Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 1.4% in the two-week period to 3.92 million shares, about 10.6% of the company’s float. Days to cover rose from five to six. The stock price fell by 1.1% in the first two weeks of the month. Shares closed at $4.88 on Tuesday, up about 0.2% on the day, in a 52-week range of $2.41 to $13.70.
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