Energy

Short Interest in Solar, Alt Energy Stocks Drops

Paul Ausick

Published: December 28, 2016 7:15 am

Last Updated: January 12, 2020 4:23 pm

Short interest moves among solar and alternative energy stocks were uniformly downward during the two-week reporting period that ended on December 15. Of the companies we watch, short interest fell on all three solar stocks and on all four alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest slip by 2.1% to 17.04 million shares, which represents about 22.3% of the company’s float. Days to cover rose from four to seven. In the short interest period, the stock’s share price rose by nearly 9%. Its 52-week trading range is $28.60 to $74.29, and it closed at $33.99 on Tuesday, up about 4.2% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest decreased by 0.9% to 16.99 million shares, or 29% of the company’s float. In the two-week period, the share price rose by 3.5%. The stock’s 52-week range is $6.00 to $30.75, and it closed at $7.24 on Tuesday, up about 5.9%. Days to cover fell from nine to five.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a drop of 4.4% in short interest during the first two weeks of December. Some 15.8% of the total float, 6.98 million shares, were short, and days to cover rose from four to five. The company’s share price rose by about 7.5% over the two-week period, and shares closed Tuesday at $13.12, up about 6.4% for the day, in a 52-week range of $10.25 to $29.13.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a decrease of 13.7% in short interest between the settlement dates. Some 3.39 million shares were short as of December 15. The stock closed at $2.00 on Tuesday, unchanged for the day, in a 52-week range of $1.85 to $8.88. Shares dropped by 13.6% in the short interest period, and days to cover fell from six to five.

Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 2.7% to 31.17 million shares. Days to cover fell from eight to six, and about 17.4% of the company’s shares were short. In the two weeks to December 15, the share price was unchanged. The stock’s 52-week range is $1.18 to $2.29, and shares closed Tuesday at $1.30, up about 2.4% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of about 11.7% in short interest to 8.09 million shares. About 7% of the company’s float was short, and days to cover remained unchanged at four. The share price fell by about 3.2% in the two-week period. The stock closed at $3.06, unchanged, on Tuesday, in a 52-week range of $2.15 to $4.80.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest drop by 17.2% in the period to 1.47 million shares, about 3.8% of the company’s float. Days to cover slipped from three to two. The stock price jumped by nearly 15% in the two weeks. Shares closed at $9.80 on Tuesday, unchanged on the day, in a 52-week range of $2.41 to $10.95.