Energy

Short Sellers Favor Alt Energy Stocks, Mixed on Solar

Paul Ausick

Published: November 25, 2020 11:23 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on November 13. Of the companies we watch, short interest increased on two solar stocks and fell on two of five alternative energy stocks. On Tuesday, we covered recent action in three of the alt energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest drop to 7.4 million shares, which represents about 8.3% of the company’s float. In the two-week short interest period, the share price decreased by about 8.2%. Its 52-week range is $28.47 to $97.93, and it traded at $92.30 on Wednesday.

SunPower Corp.’s (NASDAQ: SPWR) short interest increased by 4% to 39.7 million shares, or 49% of the float. In the two weeks to November 13, the share price increased by 18.7%. Shares hit a 52-week high of $23.43 Wednesday morning. The 52-week low is $2.64.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest rise by 5.3% during the two-week period. Some 12.2% of the total float, or about 5.29 million shares, were short. The share price increased by around 6.8% over the two weeks. The stock traded Wednesday at $42.55, in a 52-week range of $12.00 to $44.86.

FuelCell Energy Inc. (NASDAQ: FCEL) short interest plunged by 19% during the period. Some 35.9 million shares were short as of November 13, or about 16.8% of the total float. The share price soared by 42.5% in the period, and the stock traded at $8.15 on Tuesday, in a 52-week range of $0.48 to $11.31.

Plug Power Inc.’s (NASDAQ: PLUG) short interest rose by 10% to 72.5 million shares. About 18.3% of its shares are short. In the two weeks to November 13, the share price skied by more than 67%. The 52-week trading range is $2.53 to $28.70. Shares were changing hands at $25.65 on Wednesday.

Clean Energy Fuels Corp. (NASDAQ: CLNE) short interest decreased by 4% to 2.5 million shares. About 1.8% of the company’s float was short. The share price jumped by about 29% in the first two weeks of November. The stock traded at $4.55 on Wednesday, in a 52-week range of $1.05 to $5.25.

Bloom Energy Corp. (NYSE: BE) short interest jumped by 25% in those two weeks. Some 20.5 million shares were short, representing about 14.6% of the company’s total float. The stock price jumped by nearly 43% during the period. Shares traded Wednesday at $25.80, in a 52-week range of $3.00 to $25.87.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest for the two-week period rise by about 22% to 5.1 million shares. About 9.4% of the company’s float was short. Shares traded at $6.70 on Wednesday, in a 52-week range of $0.22 to $11.44.