Short Sellers Focus on a Few Alternative Energy, Solar Stocks

Energy

Published: June 26, 2019 8:40 am

Last Updated: January 30, 2020 7:16 pm

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on June 14. Of the companies we watch, short interest decreased on one of three solar stocks and on one of five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest fall by 3% to 11.03 million shares, which represents about 9% of the company’s float. Days to cover remained unchanged at nine. In the two-week short interest period, the stock’s share price rose by about 7.6%. Its 52-week range is $36.51 to $65.28, and it closed at $61.76 on Tuesday, down by about 1.5% for the day.

SunPower Corp.’s (NASDAQ: SPWR) short interest remained essentially unchanged at 18.31 million shares, or 29.9% of the company’s float. In the two weeks to June 14, the share price jumped by 9.4%. The stock’s 52-week range is $4.55 to $11.01, and it closed at $10.00 on Tuesday, down by about 3.2% for the day. Days to cover slipped from 10 to nine.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a rise of 8% in short interest during the period. Some 6.4% of the total float, or 2.86 million shares, were short, and days to cover rose from three to four. The company’s shares traded up by about 14.3% over the two weeks, and shares closed Tuesday at $21.27, down about 4.1% for the day, in a 52-week range of $11.76 to $25.89.

Bloom Energy Corp. (NYSE: BE) short interest jumped by 21% in the two weeks to June 14. Some 10.2 million shares were short, representing 8.3% of the company’s total float. Days to cover rose from seven to eight, and the stock price rose by about 2.5% during the short interest period. Shares closed Tuesday at $11.53, 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 61% in short interest between the settlement dates. Some 3.52 million shares were short as of June 14, nearly 40% of the total float. The stock closed at $0.16 on Tuesday, down nearly 16% for the day, in a 52-week range of $0.15 to $17.52. Note that the company completed a one-for-12 reverse split in late April. Days to cover remained at about two. In the first two weeks of June, the stock price dropped by 66.5%.

Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 2% to 49.27 million shares. Days to cover rose from nine to 11, and about 21% of the company’s shares were short. In the two weeks of June, the share price rose by about 2.2%. The stock’s 52-week range is $0.99 to $2.87, and shares closed Tuesday at $2.05, down about 1.9% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a rise of 11% in short interest to 2.65 million shares. About 2% of the company’s float was short, and days to cover rose from two to three. The share price fell by about 3.3% in the two weeks to June 14. The stock closed at $2.53 on Tuesday, down by about 1.2% for the day, in a 52-week range of $1.61 to $4.05.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 7% in the period to 1.28 million shares, or about 3.9% of the company’s float. Days to cover increased from three to four. The stock price dropped by about 14.4% in the two weeks to June 14. Shares closed at $0.78 on Tuesday, down about 3.4% for the day, in a 52-week range of $0.76 to $3.24.

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