Short Sellers Remain Mixed on Alt Energy, Solar Stocks

Energy

Published: July 13, 2020 9:24 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on June 30. Of the companies we watch, short interest increased on one solar stock and on three of five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest remain flat at 10.7 million shares, which represents about 14.1% of the company’s float. Days to cover rose from eight to nine. In the two-week short interest period, the share price slipped by about 1.2%. The stock’s 52-week range is $28.47 to $69.24, and it closed at $57.49 on Friday, up by about 0.5% for the day.

SunPower Corp.’s (NASDAQ: SPWR) short interest rose by 19.0% to 24.2 million shares, or 30.1% of the company’s float. Days to cover rose from six to eight. In the two weeks to June 30, the share price rose by about 4.1%. The stock’s 52-week range is $4.03 to $16.04, and it closed at $9.23 on Friday, down 5.6% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest fall by about 6.8% during the two-week period. Some 5.2% of the total float, or 2.4 million shares, were short, and days to cover slipped from three to two. The company’s shares rose by 8.0% over the period, and they closed Friday at $23.40, down by about 2.0% for the day. The 52-week range is $12.00 to $25.35.

FuelCell Energy Inc.’s (NASDAQ: FCEL) short interest soared by 61% during the period. Some 44.3 million shares were short as of June 30, about 22.1% of the total float. Days to cover rose from three to four. The stock closed at $3.07 on Friday, up fractionally for the day, in a 52-week range of $0.23 to $3.42.

Plug Power Inc. (NASDAQ: PLUG) had short interest remain flat at 72.0 million shares. Days to cover slipped from six to four, and about 23.5% of the company’s shares were short. In the latter two weeks of June, the share price soared by 57.6%. The stock’s 52-week range is $1.88 to $10.49, and shares closed Friday at $9.30, up 3.9% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a jump of 63.0% in short interest to 1.5 million shares. About 1.1% of the company’s float was short, and days to cover remained at one. The share price rose by about 1.4% in the two-week period. The stock closed at $2.72 on Friday, down by 9.3% for the day, in a 52-week range of $1.05 to $3.75.

Bloom Energy Corp.’s (NYSE: BE) short interest rose by 21.0% in the two weeks. Some 20.6 million shares were short, representing about 23.5% of the company’s total float. Days to cover remained at seven, and the stock price increased by about 20.2% during the period. Shares closed Friday at $13.72, up by about 5.5% for the day, in a 52-week range of $2.44 to $14.51.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest for the two-week period fall by about 4.4% to 107,907 shares. Less than 1% of the company’s float was short, and days to cover remained at one. Shares closed at $0.75 on Friday, up by about 2.0% on the day, in a 52-week range of $0.22 to $1.00.