Energy

Where Short Sellers Are Focused in Solar, Alt Energy Stocks

Paul Ausick

Published: July 12, 2018 7:50 am

Last Updated: January 11, 2020 9:09 pm

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on June 29. Of the companies we watch, short interest fell on two of three solar stocks and on three of four alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest slip by 1.6% to 7.15 million shares, which represents about 9.5% of the company’s float. Days to cover rose from one to three. In the two-week short interest period, the stock’s share price rose by 4.1%. The stock’s 52-week range is $38.36 to $81.72, and it closed at $54.72 on Wednesday, down about 0.9% for the day.

SunPower Corp.’s (NASDAQ: SPWR) short interest decreased by 7.2% to 18.38 million shares, or 28.1% of the company’s float. In the short interest period to June 29, the share price ticked down by 0.1%. The stock’s 52-week range is $6.46 to $11.70, and it closed at $7.93 on Wednesday, down about 0.6% for the day. Days to cover rose from six to 11.

Canadian Solar Inc. (NASDAQ: CSIQ) saw an increase of 10.3% in short interest during the two weeks to June 29. Some 7.2% of the total float, or 3.23 million shares, were short, and days to cover rose from one to three. The company’s share price rose by 5.9% over the two-week period, and shares closed Wednesday at $13.02, down about 1.5% for the day, in a 52-week range of $11.37 to $19.09.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 43.9% in short interest during the period. Some 10.68 million shares were short as of June 29. The stock closed most recently at $1.33, down about 1.5% for the day, in a 52-week range of $1.29 to $2.49. Shares traded down more than 20% in the short interest period, and days to cover dropped from six to four.

Plug Power Inc. (NASDAQ: PLUG) saw short interest dip by 7.5% to 34.81 million shares. Days to cover remained unchanged at 12, and about 16.5% of the company’s shares were short. In the final two weeks of June, the share price rose by 2.5%. The stock’s 52-week range is $1.53 to $3.21, and shares closed Wednesday at $2.06, flat for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 1.3% in short interest to 3.45 million shares. About 4.1% of the company’s float was short and days to cover fell from two to one. The share price jumped 24.7% in the two-week period. The stock closed at $2.80 on Wednesday, down about 1.2% for the day, in a 52-week range of $1.31 to $4.05.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest plummet by 64.5% in the two-week period to 767,280 shares, about 1.8% of the company’s float. Days to cover fell from four to one. The stock price fell nearly 12% by June 29. Shares closed at $2.50 on Wednesday, down about 3.9% on the day, in a 52-week range of $2.30 to $7.50.