Short Sellers Raise Stakes in Solar, Alt Energy Stocks

Energy

Published: September 25, 2020 9:03 am

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

First Solar Inc. (NASDAQ: FSLR) saw short interest fall by 7% to 9.4 million shares, which represent about 12.4% of the company’s float. Days to cover dipped from seen to six. In the two-week short interest period, the stock’s share price decreased by about 4.8%. Its 52-week range is $28.47 to $81.87, and it closed at $61.30 on Thursday, down by about 1.2% for the day.

SunPower Corp.’s (NASDAQ: SPWR) short interest jumped by 12% to 33.3 million shares, or 41.4% of the company’s float. Days to cover rose from six to seven. In the two weeks to September 15, the share price slipped by 1.5%. The stock’s 52-week range is $2.64 to $12.46, and it closed at $10.14 on Thursday, down about 0.7% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest soar by about 40% during the two-week period. Some 7.9% of the total float, or 3.6 million shares, were short, and days to cover remained at two. The company’s share price slipped by about 3.8% over the period, and it closed Thursday at $29.90, down by about 1.2% for the day, in a 52-week range of $12.00 to $34.87.

FuelCell Energy Inc. (NASDAQ: FCEL) short interest jumped by 33% during those two weeks. Some 49.5 million shares were short as of September 15, about 21.9% of the total float, and the share price tumbled by nearly 15%. Days to cover rose from three to four. The stock closed at $2.28 on Thursday, up about 2.2% for the day, in a 52-week range of $0.23 to $3.50.

Plug Power Inc. (NASDAQ: PLUG) short interest rose by 10% to 59.5 million shares. Days to cover rose from two to three and about 15% of the company’s shares are short. In the two weeks to September 15, the share price decreased by 3.5%. The stock’s 52-week range is $2.32 to $14.35, and shares closed Thursday at $11.24, down by nearly 7% for the day.

Clean Energy Fuels Corp.’s (NASDAQ: CLNE) short interest increased by 6% to 3.2 million shares. About 2.2% of the company’s float was short, and days to cover remained at one. The share price fell by about 0.4% in the short interest period. The stock closed at $2.50 on Thursday, up by 2.9% for the day, in a 52-week range of $1.05 to $3.75.

Bloom Energy Corp. (NYSE: BE) short interest fell by 10% in the two weeks. Some 18.8 million shares were short, representing about 19.8% of the company’s total float. Days to cover fell from five to four, and the stock price dropped by 7.6% during the period. Shares closed Thursday at $14.61, down by about 4.1% for the day, in a 52-week range of $2.44 to $19.67.

Pacific Ethanol Inc. (NASDAQ: PEIX) had short interest for the two-week period jump by about 40% to 2.2 million shares. About 4.1% of the company’s float was short. Days to cover remained at one. Shares closed at $6.63 on Thursday, down by nearly 10% on the day, in a 52-week range of $0.22 to $8.47.