Energy

Short Sellers Parting With Solar Stocks, Jumping on Alternative Fuels

Paul Ausick

Published: January 28, 2019 9:50 am

Last Updated: January 31, 2020 1:30 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on January 15.  Of the companies we watch, short interest fell on two of three solar stocks and on one of five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest decline by 1.9% to 10.73 million shares, which represents about 14.3% of the company’s float. Days to cover remained at seven. In the two-week short interest period, the stock’s share price rose by about 10.5%. The stock’s 52-week range is $36.51 to $81.72, and it traded down fractionally to $49.59 early Monday.

SunPower Corp. (NASDAQ: SPWR) short interest dipped by 1% to 23.22 million shares or 37.9% of the company’s float. In the short interest period, the share price increased by about 10.4%. The stock’s 52-week range now is $4.55 to $10.00, and it traded down 2.5% to $5.37 Monday morning. Days to cover rose from 12 to 16.

Canadian Solar Inc. (NASDAQ: CSIQ) saw an increase of 8.6% in short interest during the two weeks to January 15. Some 6.8% of the total float, or 3.04 million shares, were short and days to cover remained unchanged at four. The company’s shares traded up more than 26% in the period, and shares were last seen at $19.68, up about 0.8% for the day, in a 52-week range of $11.37 to $19.83.

Bloom Energy Corp. (NYSE: BE) short interest jump by 22.5% in the two-week period. Some 4.66 million shares were short, representing 31.8% of the company’s total float. Days to cover rose from seven to 10, and the stock price soared by about 25.5% between the settlement dates. Shares traded Monday at $11.16, down about 3.2% for the day, in a 52-week range of $9.42 to $38.00.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a rise of 32.7% in short interest during the period. Some 17.5 million shares were short as of January 15, about 17.9% of the total float. The stock traded at $0.53, down about 1.4% for the day, in a 52-week range of $0.47 to $2.11. Shares traded up about 2% in the two-week short interest period, and days to cover increased from seven to eight.

Plug Power Inc. (NASDAQ: PLUG) saw its short interest increase by 9.5% to 39.75 million shares. Days to cover rose from seven to eight, and about 17.3% of the company’s shares were short. In the two weeks to January 15, the share price rose by about 10.5%. The stock’s current 52-week range is $0.99 to $2.27, and traded at $1.34, down about 1.4% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 9.1% in short interest to 3.62 million shares. About 2.7% of the company’s float was short, and days to cover rose from three to six. The share price rose by about 13.3% in the first two weeks of January. The stock traded at $1.91, down about 1.5% early Monday, in a 52-week range of $1.31 to $4.05.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest plunge by 60.2% in the two-week period to 372,794 shares, or about 0.8% of the company’s float. Days to cover remained at one. The stock price jumped by about 32% in the two weeks to January 15. Shares traded at $1.48, up more than 10% for the day, in a 52-week range of $0.76 to $4.50.