Short Sellers Take Another Look at Solar, Alternative Energy Stocks

Energy

Published: April 10, 2019 9:45 am

Last Updated: January 30, 2020 10:15 pm

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

First Solar Inc. (NASDAQ: FSLR) saw short interest rise by 7.5% to 10.71 million shares, which represents about 14.3% of the company’s float. Days to cover rose from seven to eight. In the two-week short interest period, the stock’s share price decreased by about 1.6%. Its 52-week range is $36.51 to $81.72, and it closed at $56.13 on Tuesday, down about 1.7% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest increased by 2.4% to 22.45 million shares, or 36.6% of the company’s float. In the short interest period ended March 29, the share price increased by about 1.6%. The stock’s 52-week range is $4.55 to $10.00, and it closed at $7.47 on Tuesday, down by about 2% for the day. Days to cover dropped from 15 to 13.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a decrease of 2.2% in short interest during the two weeks. Some 7.8% of the total float, or 3.5 million shares, were short, and days to cover fell from five to two. The company’s shares traded down about 20% during the short interest period, and shares closed Tuesday at $18.92, down about 2.7% for the day, in a 52-week range of $11.37 to $25.89.

Bloom Energy Corp. (NYSE: BE) short interest rose by 15% in the final two weeks of March. Some 5.93 million shares were short, representing 11.5% of the company’s total float. Days to cover rose from four to five, and the stock price rose by about 0.2% during the period. Shares closed Tuesday at $12.34, down about 0.3% for the day, in a 52-week range of $8.88 to $38.00.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 20% in short interest during the two-week period. Some 16.14 million shares were short as of March 29, about 12.6% of the total float. The stock closed at $0.28 on Tuesday, down about 4.7% for the day, in a 52-week range of $0.24 to $2.11. Shares traded down nearly 28% in the short interest period, and days to cover increased from three to five.

Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by 4.3% to 40.18 million shares. Days to cover rose from five to six and about 16.7% of the company’s shares were short. In the two weeks to March 29, the share price rose by about 0.9%. The stock’s 52-week range is $0.99 to $2.86, and shares closed Tuesday at $2.59, down by about 6.5% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a decrease of 10.3% in short interest to 2.65 million shares. About 2% of the company’s float was short, and days to cover remained at two. The share price rose by more than 17% in the period. The stock closed at $3.06 on Tuesday, down by about 2.6% for the day, in a 52-week range of $1.54 to $4.05.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest soar by 95.8% in the latter half of last month to 673,663 shares, about 1.5% of the company’s float. The latest days-to-cover reading was about one. The stock price fell by about 14% in the two weeks. Shares closed at $1.15 on Tuesday, unchanged for the day, in a 52-week range of $0.76 to $3.95.