Energy

Short Interest on Solar Stocks Mixed, Jumps on Alt Energy Shares  

Paul Ausick

Published: March 25, 2020 10:05 am

Last Updated: March 25, 2020 10:09 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on March 13.  Of the companies we watch, short interest decreased on two of three solar stocks and increased on all four alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest slipped by less than 1% to 12.25 million shares, which represents about 16.7% of the company’s float. Days to cover remained at seven. In the two-week short interest period through March 13, the stock’s share price dropped by more than 31%. The stock’s 52-week range is $28.47 to $69.24, and it closed at $33.71 on Tuesday, up by nearly 2% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest rose by 12.7% to 24.51 million shares, or 30% of the company’s float. In the two-week short interest period, the share price decreased by more than 21%. The stock’s 52-week range is $4.03 to $16.04, and shares closed at $6.78 on Tuesday, up about 10% for the day. Days to cover remained at five.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest fall by about 7% during the first two weeks of March. Some 7.0% of the total float, or 3.15 million shares, were short, and days to cover remained at four. The company’s shares tumbled by 32% over the period, and they closed Tuesday at $15.40, up by about 6.7% for the day, in a 52-week range of $12.00 to $25.35.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a jump of 40% in short interest during the period. Some 33.78 million shares were short as of March 13, about 16.9% of the total float. The stock closed at $1.58 on Tuesday, up about 16.4% for the day, in a 52-week range of $0.13 to $4.44. Days to cover rose from one to more than two. The share price fell by about 80% in the two weeks.

Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by 8.3% to 72.56 million shares. Days to cover remained at four, and about 23.9% of the company’s shares were short. In the two weeks to March 13, the share price soared by more than 88%. The stock’s 52-week range is $1.86 to $6.05, and shares closed Tuesday at $3.81, up by about 2.1% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a rise of 15.7% in short interest to 1.96 million shares. About 1.0% of the company’s float was short, and days to cover fell from two to one. The share price dropped by 31% in the two-week period. The stock closed at $1.64 on Tuesday, up about 12% for the day, in a 52-week range of $1.05 to $3.47.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 9.8% to 349,523 shares by mid-month. Less than 1% of the company’s float was short. Days to cover slipped from two to one. Shares closed at $0.30 on Tuesday, up by about 6.7% on the day, in a 52-week range of $0.22 to $1.31. The stock’s share price retreated nearly 77% in the two-week period to March 13.

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