The Solar, Alt Energy Stocks That Are Attracting Short Sellers

Energy

Published: October 12, 2020 10:28 am

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

First Solar Inc. (NASDAQ: FSLR) saw short interest remain unchanged at 9.4 million shares, which represents about 11.2% of the company’s float. Days to cover dipped from six to five. In the two-week short interest period, the share price decreased by about 9.2%. The stock’s 52-week range is $28.47 to $83.30, and it closed at $78.81 on Friday, up by about 4.1% for the day. A new 52-week high was posted at the opening bell Monday.

SunPower Corp. (NASDAQ: SPWR) short interest jumped by 13% to 37.5 million shares, or 46.6% of the company’s float. Days to cover dipped from seven to six. In the two weeks to September 30, the share price popped by about 13.5%. Its 52-week range is $2.64 to $18.25, and it closed at $17.43 on Friday, up about 3% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest soar by about 22% during the two-week period. Some 9.6% of the total float, or about 4.4 million shares, were short, and days to cover rose from two to three. The company’s share price jumped by about 12.3% over the period, and shares closed Friday at $41.62, in a 52-week range of $12.00 to $42.74.

FuelCell Energy Inc. (NASDAQ: FCEL) short interest fell by 13% during the reporting period. Some 43 million shares were short as of September 30, about 15.7% of the total float, and the share price tumbled by 11.6%. Days to cover dipped from four to three. The stock closed at $2.62 on Friday, in a 52-week range of $0.23 to $3.50.

Plug Power Inc.’s (NASDAQ: PLUG) short interest rose by 4% to 61.9 million shares. Days to cover remained at three, and about 15.6% of the company’s shares were short. In the latter half of September, the share price increased by 7%. Its 52-week range is $2.32 to $19.02, and shares closed Friday at $18.43.

Clean Energy Fuels Corp. (NASDAQ: CLNE) short interest decreased by 14% to 2.7 million shares. About 1.9% of the company’s float was short, and days to cover rose from one to two. The share price fell by about 5.7% in the two-week period. The stock closed at $2.66 on Friday, in a 52-week range of $1.05 to $3.75.

Bloom Energy Corp.’s (NYSE: BE) short interest rose by 6% in the two weeks to September 30. Some 19.9 million shares were short, representing about 21% of the company’s total float. Days to cover remained at four, and the stock price soared by more than 24% during the period. Shares closed Friday at $22.92, in a 52-week range of $2.44 to $23.38.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest in the two-week period jump by about 25% to 2.7 million shares. About 4.7% of the company’s float was short. Days to cover remained at one. Shares closed at $8.833 on Friday, in a 52-week range of $0.22 to $9.19.