Energy
Short Sellers Mixed on Solar Stocks, but Are Betting Against Alt Energy
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Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on May 31. Among the companies we watch, short interest rose on two of three solar stocks and on three out of four alternative energy stocks.
First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 2.2% to 4.14 million shares, which represents about 5.4% of the company’s float. The number of days to cover rose from two to four. In the two-week short interest period through May 31, the stock’s share price fell 7.6%. The stock’s 52-week range has been $35.33 to $81.72 and Monday’s closing price was $53.02, a rise of about 2.3% for the day.
For SunPower Corp. (NASDAQ: SPWR) short interest increased 7.1%, to 17 million shares, or 28% of the company’s float. In the two-week short interest period until May 31, the share price dropped 8.9%. The stock’s 52-week range has been $6.46 to $11.70; and Monday’s closing price was $7.64, a rise of about 2.3% for the day. The number of days to cover rose from seven to nine.
Canadian Solar Inc. (NASDAQ: CSIQ) saw a decrease of 13.8% in short interest during the two-week period until May 31. Some 2.8% of the total float, or 1.25 million shares, were short and the number of days to cover fell from three to two. The company’s share price dipped 1.2% over the two-week period. And Monday’s closing price was $12.20, a rise of about 3.1% for the day, within a 52-week range of $12.04 to $19.09.
FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 8% in short interest during the two-week period. Some 7.45 million shares were short as of May 31. The stock’s price was $1.76 at Monday’s market close, a spike of about 1.1% for the day, within a 52-week range of $1.08 to $2.49. Shares traded up about 2.5% in the two-week short interest period, and the number of days to cover rose from 14 to 17.
Plug Power Inc. (NASDAQ: PLUG) saw short interest tick down 0.2% to 36.47 million shares. The number of days to cover rose from seven to eight and about 17.3% of the company’s shares were short. In the two weeks that ended May 31, the share price tumbled 12.8%. The stock’s 52-week range has been $1.53 to $3.21 and shares closed Monday at $1.93, a rise of about 2.1% for the day.
Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a small rise of 0.6% in short interest to 3.91 million shares. About 4.5% of the company’s float was short and the number of days to cover fell from two to one. The share price soared 55.4% in the two-week period until May 31. The stock’s price was $2.99 at Monday’s market close, down about 3.5% for the day, within a 52-week range of $1.31 to $3.52.
In the two-week period, Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise 5.4%, to 2.46 million shares, about 5.8% of the company’s float. The number of days to cover remained unchanged at six. The stock price fell 4.2% in the two weeks that ended May 31. The price of shares was $2.92 at Monday’s market close, down about 3% on the day, within a 52-week range of $2.75 to $7.50.
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