Energy

Short Sellers Jump on One Solar, One Alt Energy Stock

Paul Ausick

Published: September 13, 2018 7:55 am

Last Updated: January 11, 2020 6:00 pm

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on August 31. Of the companies we watch, short interest rose on two of three solar stocks and rose on three of five alternative energy stocks. We’ve added fuel cell maker Bloom Energy to our watch list this week.

First Solar Inc. (NASDAQ: FSLR) saw short interest rise by 4.5% to 4.44 million shares, which represents about 5.9% of the company’s float. Days to cover remained unchanged at four. In the two-week short interest period, the stock’s share price rose by 2.5%. Its 52-week trading range is $45.26 to $81.72, and it closed at $48.90 on Wednesday, up about 0.9% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest increased by 12.4% to 19.86 million shares, or 32.6% of the company’s float. In the two-week period to August 31, the share price dipped by just 0.1%. The stock’s 52-week range is $6.36 to $10.00, and it closed at $6.86 on Wednesday, down about 0.3% for the day. Days to cover rose from 11 to 14.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a decrease of 17.1% in short interest during the two-week period. Some 6.3% of the total float, or 2.8 million shares, were short, and days to cover fell from four to three. The company’s shares traded up 4.9% over the two weeks, and shares closed Wednesday at $14.94, up about 1.5% for the day, in a 52-week range of $11.37 to $19.09.

Bloom Energy Corp. (NYSE: BE) short interest jumped by 25.7% in the final two weeks of August. Some 2.43 million shares were short, representing 14% of the company’s total float. Days to cover was three, and the stock added just over 27% to its price during the period. Shares closed Wednesday at $31.91, up 9.1% for the day, in a 52-week range of $0.40 to $33.25.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a dip of 0.5% in short interest during the two weeks. Some 9.88 million shares were short as of August 31. The stock closed at $1.08 on Wednesday, up about 1.9% for the day, in a 52-week range of $1.00 to $2.49. Shares traded up about 14.4% in the two-week short interest period, and days to cover rose from nine to 12.

Plug Power Inc. (NASDAQ: PLUG) saw short interest tick higher by 0.1% to 33.88 million shares. Days to cover fell from 16 to 12, and about 16% of the company’s shares were short. In the two weeks to August 31, the share price rose by 5.5%. The stock’s 52-week range now is $1.53 to $3.21, and shares closed Wednesday at $1.77, up about 0.6% for the day.

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Clean Energy Fuels Corp. (NASDAQ: CLNE) saw an increase of 6.9% in short interest to 3.2 million shares. About 2.4% of the company’s float was short, and days to cover rose from two to three. The share price rose by 4.6% in the final weeks of last month. The stock closed at $2.65 on Wednesday, down about 2.6% for the day, in a 52-week range of $1.31 to $4.05.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest fall by 4.5% in the two-week period to 865,593 shares, about 2% of the company’s float. Days to cover remained at two. The stock price tumbled by about 19.6% in the short interest period. Shares closed at $1.60 on Wednesday, flat on the day, in a 52-week range of $1.55 to $6.06.