Energy

Short Sellers Cool to Solar Stocks, Pile Into One Alt Energy Stock

Paul Ausick

Published: August 26, 2020 8:36 am

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

First Solar Inc. (NASDAQ: FSLR) saw short interest slip by 7% to 10.4 million shares. That represents about 13.7% of the company’s float, and the days to cover figure remained at eight. In the two-week short interest period, the stock’s share price soared by 25.8%. Its 52-week range is $28.47 to $78.54, and it closed at $77.37 on Tuesday, up by about 1.1% for the day.

SunPower Corp.’s (NASDAQ: SPWR) short interest rose by 2% to 26.0 million shares, or 32.3% of the company’s float. Days to cover remained at seven. In the two weeks to August 14, the share price jumped by 21.7%. Its 52-week range is $4.03 to $15.57, and the stock closed at $13.27 on Tuesday, up about 9.3% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest increase by 1.6% during the first half of August. Some 4.6% of the total float, or 2.1 million shares, were short, and days to cover remained at two. The company’s shares jumped by nearly 17% over the two-week period, and they closed Tuesday at $27.72, up by about 2.4% for the day, in a 52-week range of $12.00 to $27.78. The high was posted Tuesday.

FuelCell Energy Inc. (NASDAQ: FCEL) short interest decreased by 10% during the period. Some 36.7 million shares were short as of August 14, about 17.8% of the total float, and the share price rose by 22.4%. Days to cover remained at three. The stock closed at $2.88 on Tuesday, up 3.8% for the day, in a 52-week range of $0.23 to $3.50.

Plug Power Inc. (NASDAQ: PLUG) short interest slipped by less than 1% to 52.0 million shares. Days to cover dipped from three to two, and about 13.1% of the company’s shares were short. In those two weeks, the share price rocketed by nearly 48%. The stock’s 52-week range is $2.10 to $14.35, and shares closed Tuesday at $12.85, up 4.1% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) short interest plunged by 23% to 2.8 million shares. About 2.0% of the company’s float was short and days to cover fell from two to one. The share price rose by about 13.5% in the short interest period. The stock closed at $2.78 on Tuesday, down by 0.4% for the day, in a 52-week range of $1.05 to $3.75.

Bloom Energy Corp.’s (NYSE: BE) short interest jumped by 26% in the two weeks. Some 21.6 million shares were short, representing about 22.7% of the company’s total float. Days to cover rose from four to five, and the stock price rose by 16.5% during the period. Shares closed Tuesday at $16.30, down by about 0.2% for the day, in a 52-week range of $2.44 to $19.67.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest soar by about 430% to 2.36 million shares. About 4.5% of the company’s float was short. Days to cover remained at one. Shares closed at $4.02 on Tuesday, down by about 2.2% on the day, in a 52-week range of $0.22 to $5.33. Pacific Ethanol has scheduled a special shareholder meeting on August 27 to consider and vote on a reverse stock split in a range of one-for-five to one-for-15.