Energy
Short Sellers Avoid Solar, Jump on Some Alt Energy Stocks
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Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on September 13. Of the companies we watch, short interest decreased on all three solar stocks and decreased on two of five alternative energy stocks.
First Solar Inc. (NASDAQ: FSLR) saw short interest drop by 3% to 9.8 million shares, which represents about 13% of the company’s float. Days to cover dipped from 10 to nine. In the two-week short interest period, the stock’s share price rose by about 2.7%. The stock’s 52-week range is $36.51 to $69.24, and it closed at $65.48 on Tuesday, down about 2.7% for the day.
SunPower Corp. (NASDAQ: SPWR) short interest decreased by about 4% to 18.49 million shares, or 29.5% of the company’s float. In the two weeks to September 13, the share price rose by about 0.5%. The stock’s 52-week range is $4.55 to $16.04, and it closed at $13.81 on Tuesday, down by about 8% for the day. Days to cover remained unchanged at six.
Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest drop by 6% during the first half of September. Some 6.7% of the total float, or 3.07 million shares, were short, and days to cover remained at five. The company’s shares traded down by about 8.7% over the period, and shares closed Tuesday at $21.26, down more than 6% for the day, in a 52-week range of $12.69 to $25.89.
Bloom Energy Corp. (NYSE: BE) short interest jumped by 27% in the period. Some 14.94 million shares were short, representing 23.8% of the company’s total float. Days to cover remained unchanged at six, and the stock price dropped by about 2.7% during the two weeks. Shares closed Tuesday at $3.24, down by about 5.5% for the day, in a 52-week range of $3.08 to $38.00. Shares tumbled earlier this week following a harsh review from short seller Hindenburg Research.
FuelCell Energy Inc. (NASDAQ: FCEL) posted a decrease of 1% in short interest during the two-week period. Some 6.48 million shares were short as of September 13, about 5.2% of the total float. The stock closed at $0.34 on Tuesday, down about 5.6% for the day, in a 52-week range of $0.13 to $13.68. The company completed a one-for-12 reverse split in late April. Days to cover remained below one. In the short interest period, the stock price rose by about 13.2%.
Plug Power Inc. (NASDAQ: PLUG) saw short interest rise by 1% to 42.7 million shares. Days to cover remained at 13, and about 19.3% of the company’s shares were short. By the September 13 settlement date, the share price jumped about 21.4%. The stock’s 52-week range is $0.99 to $2.94, and shares closed Tuesday at $2.72, down by about 2.9% for the day.
Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a jump of 23% in short interest to 3.04 million shares. About 2% of the company’s float was short, and days to cover rose from three to four. The share price rose by about 7.1% in the two-week period. The stock closed at $2.10 on Tuesday, down about 2.3% for the day, in a 52-week range of $1.61 to $3.47.
Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest decline by 7% in the period to 919,200 shares, about 2% of the company’s float. Days to cover remained at two. The stock price soared by nearly 20% in the period. Shares closed at $0.62 on Tuesday, down about 3.6% for the day, in a 52-week range of $0.50 to $3.24.
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