Short Sellers Add Interest in Solar, Dodge Alt Energy Stocks

Energy

Published: October 25, 2019 11:00 am

Last Updated: January 30, 2020 2:04 pm

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

First Solar Inc. (NASDAQ: FSLR) saw short interest rise by 5% to 10.77 million shares, which represents about 14.3% of the company’s float. Days to cover remained at eight. In the two-week short interest period, the stock’s share price slipped by about 2.8%. Its 52-week range is $36.51 to $69.24, and it closed at $55.89 on Thursday, up about 1.3% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest increased by about 9% to 20.34 million shares, or 32.5% of the company’s float. In the two weeks to October 15, the share price tumbled by about 10.6%. The stock’s 52-week range is $4.55 to $16.04, and it closed at $9.24 on Thursday, down by about 0.8% for the day. Days to cover remained unchanged at six.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest rise by 7% during the period. Some 7.2% of the total float, or 3.28 million shares, were short, and days to cover rose from four to five. The company’s shares traded down by about 0.8% over the two weeks, and shares closed Thursday at $18.25, up by about 2.3% for the day, in a 52-week range of $12.69 to $25.89.

Bloom Energy Corp. (NYSE: BE) short interest rose by 12% in the first two weeks of October. Some 18.26 million shares were short, representing 28% of the company’s total float. Days to cover remained at seven, and the stock price dropped by about 7.1% during the period. Shares closed Thursday at $2.67, essentially flat for the day, in a 52-week range of $2.44 to $24.95.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 18% in short interest during the period. Some 14.11 million shares were short as of October 15, about 11.2% of the total float. The stock closed at $0.32 on Thursday, up a penny for the day, in a 52-week range of $0.13 to $11.64. Days to cover rose to one. In the two weeks to October 15, the stock price fell by about 9.3%.

Plug Power Inc. (NASDAQ: PLUG) saw short interest drop by 5% to 43.97 million shares. Days to cover fell from 14 to 12, and about 20% of the company’s shares were short. In the short interest period, the share price rose by about 5.7%. The stock’s 52-week range is $0.99 to $3.14, and shares closed Thursday at $3.05, up by about 2.7% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 17% in short interest to 2.27 million shares. About 1.5% of the company’s float was short, and days to cover fell from four to three. The share price rose by about 1.9% in the two-week period. The stock closed at $2.18 on Thursday, down about 2.2% for the day, in a 52-week range of $1.61 to $3.47.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest dive by 37% in the period to 795,600 shares, about 1.6% of the company’s float. Days to cover dipped from three to two. The stock price slipped by about 2.1% in the first half of October. Shares closed at $0.56 on Thursday, down a penny on the day, in a 52-week range of $0.50 to $1.90. The 37% decline in short interest matches up with a 38% increase in the previous two-week reporting period.