Energy
Short Sellers Undecided on Solar, Alternative Energy Stocks
Published:
Last Updated:
Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on March 31. Of the companies we watch, short interest rose on two of three solar stocks and on two of four alternative energy stocks.
First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 5.5% to 17.62 million shares, which represents about 23% of the company’s float. Days to cover fell from nine to four. In the two-week short interest period, the stock’s share price dropped 15.5%. The stock’s 52-week trading range is $25.56 to $63.09, and it closed at $28.10 on Tuesday, up about 0.5% for the day.
SunPower Corp. (NASDAQ: SPWR) short interest increased by 0.8% to 20.31 million shares, or 34.9% of the company’s float. In the short interest period to March 31, the share price sank by 12.6%. The stock’s 52-week range is $5.84 to $22.35, and it closed at $6.70 on Tuesday, down nearly 5%. Days to cover fell from seven to six.
Canadian Solar Inc. (NASDAQ: CSIQ) saw a rise of 11.3% in short interest during the two weeks. Some 15.8% of the total float, 6.98 million shares, were short, and days to cover fell from six to three. The company’s share price fell by about 9.7% over the period. Shares closed Tuesday at $13.08, down about 0.6% for the day, in a 52-week range of $10.25 to $19.65.
FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 7.2% in short interest during the two-week period. Some 4.55 million shares were short as of March 31. The stock closed at $1.90 on Tuesday, up 8.6% for the day, in a 52-week range of $1.25 to $8.88. Shares added 1.9% in the short interest period, and days to cover remained unchanged at seven.
Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 6.9% to 33.59 million shares. Days to cover fell from 10 to five, and about 17.8% of the company’s shares were short. In the final weeks of March, the share price soared by 34%. The stock’s 52-week range is $0.83 to $2.70, and shares closed Tuesday at $2.64, up about 7.8% for the day. The 52-week high was posted on Tuesday.
Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of about 19.5% in short interest to 7.09 million shares. About 5.6% of the company’s float was short, and days to cover rose from three to five. The share price rose by about 4.5% between the settlement dates. The stock closed at $2.58 on Tuesday, up about 0.8%, in a 52-week range of $2.38 to $4.80.
Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 1.8% in the two-week period to 1.16 million shares, about 3% of the company’s float. Days to cover slipped from two to one. The stock price shed about 2.1% in the period. Shares closed at $7.15 on Tuesday, up about 3.6% on the day, in a 52-week range of $3.74 to $10.95.
Essential Tips for Investing (Sponsored)
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
