Energy

Short Sellers Shuffle the Deck on Alternative Energy, Solar Stocks

Paul Ausick

Published: May 28, 2019 7:35 am

Last Updated: January 30, 2020 8:21 pm

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

First Solar Inc. (NASDAQ: FSLR) saw short interest drop by 6% to 10.26 million shares, which represents about 13.6% of the company’s float. Days to cover fell from 10 to seven. In the two-week short interest period, the stock’s share price decreased by about 2.9%. The stock’s 52-week range is $36.51 to $69.89, and it closed at $57.31 on Friday, down less than 0.1% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest decreased by 2% to 19.32 million shares or 31.5% of the company’s float. In the two-week period to May 15, the share price rose by about 11%. The stock’s 52-week range is $4.55 to $8.99, and it closed at $7.78 on Friday, up by about 0.7% for the day. Days to cover slipped from 15 to 12.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a rise of 1% in short interest during the two weeks to May 15. Some 8.7% of the total float, or 3.95 million shares, were short, and days to cover dipped from five to four. The company’s shares traded down about 7.9% over the period, and shares closed Friday at $117.62, up about 1.4% 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 two weeks. Some 8.32 million shares were short, representing 15% of the company’s total float. Days to cover rose from six to seven, and the stock price increased by about 2% during the short interest period. Shares closed Friday at $11.17, down about 4% for the day, in a 52-week range of $8.88 to $38.00.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a decrease of 5% in short interest during the period. Some 1.54 million shares were short as of May 15, about 14.5% of the total float. The stock closed at $1.25 on Friday, down about 1.6% for the day, in a 52-week range of $1.04 to $23.76. The company had a one-for-12 reverse split in late April. Days to cover remained at about two.

Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 1% to 46.03 million shares. Days to cover fell from 14 to nine, and about 20% of the company’s shares were short. In the first two weeks of May, the share price fell by about 9.3%. The stock’s 52-week range is $0.99 to $2.86, and shares closed Friday at $2.50, flat for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a jump of 18% in short interest to 2.7 million shares. About 2.2% of the company’s float was short, and days to cover remained unchanged at two. The share price fell by about 9.4% in the two-week period. The stock closed at $2.86 on Friday, down by about 3.7% for the day, in a 52-week range of $1.61 to $4.05.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest drop by 6% in the two-week period to 913,300 shares, about 2.1% of the company’s float. Days to cover slipped from four to two. The stock price ticked down by about 0.1% in the first half of this month. Shares closed at $0.99 on Friday, unchanged for the day, in a 52-week range of $0.76 to $3.55.