Energy

Short Sellers Piling in on Solar Stocks

Paul Ausick

Published: May 25, 2016 8:05 am

Last Updated: January 13, 2020 7:36 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on May 13. In the solar sector, all four companies we watch saw short interest rise, and three of four alt energy stocks also saw an increase in short interest during the period.

In the two-week reporting period ending May 13, the share prices of all four solar stocks fell sharply, largely due to poor earnings reports. Share prices have recovered a little since the period ended, but the gains been modest. And based on short action, investors expect shares to resume their slide.

First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 8.6% to 5.28 million shares, which represents 7% of the company’s float. Days to cover remained unchanged at two. In the two-week short interest period, the stock’s share price fell by 14.8%. Its 52-week trading range is $40.25 to $74.29, and it closed at $50.46 on Tuesday, up 2.9% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest rose by 22.5% to 14.79 million shares, or 25.8% of the company’s float. In the interest period, the share price fell by 21%. The stock’s 52-week range is $15.15 to $33.29, and it closed at $17.04 on Tuesday, up about 2.8% for the day. Days to cover fell from eight to five.

SolarCity Corp. (NASDAQ: SCTY) saw short interest jump by 29% to 27.98 million shares, 44.3% of the company’s total float. Days to cover slipped from four to two. In the two weeks, the share price tumbled by 39%. The stock’s 52-week range is $16.31 to $62.68, and shares closed at $23.74 on Tuesday, down about 1.3% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a massive rise of 53.9% in short interest during the two-week period to May 13. Some 16.7% of the total float, 7.34 million shares, were short, and days to cover fell from three to two. The company’s share price fell about 9.5% over the two weeks. Shares closed Tuesday at $19.14, up about 3.2 % for the day, in a 52-week range of $14.16 to $34.48.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 18.5% in short interest during the two-week period. Some 3.76 million shares were short as of May 13. The stock closed at $6.14 on Tuesday, down about 0.2% for the day, in a 52-week range of $4.51 to $15.00. Shares dropped nearly 6% in the short interest period, and days to cover fell from nine to six.

Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by 1.1% to 29.57 million shares. Days to cover rose from 19 to 20, and about 16.6% of the company’s shares were short. In the two weeks to May 13, the stock’s share price fell by nearly 13%. Its 52-week range is $1.30 to $2.98, and shares closed most recently at $1.75, down about 0.6% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 31.4% in short interest to 8.88 million shares. About 11% of the company’s float was short, and days to cover rose fell from eight to four. Shares rose by about 7.6% in the two-week period. The stock closed at $3.09, up about 0.3%, on Tuesday, in a 52-week range of $2.15 to $8.10.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 1.7% in the two-week period to 3.97 million shares, about 10.8% of the company’s float. Days to cover fell from eight to seven. The stock price fell by nearly 16% in the two weeks to May 13. Shares closed at $5.01 on Tuesday, up about 7.7% on the day, in a 52-week range of $2.41 to $12.54.