Energy
Short Interest: Solar Stocks at the Bottom? (CSIQ, FSLR, GTAT, WFR, SPWR, JASO, LDK, STP, TSL, YGE)
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We tracked the short interest in the following North American Solar companies: Canadian Solar Inc. (NASDAQ: CSIQ), First Solar Inc. (NASDAQ: FSLR), GT Advanced Technologies Inc. (NASDAQ: GTAT), MEMC Electronic Materials Inc. (NYSE: WFR) and Sunpower Corp. (NASDAQ: SPWR). In the Chinese solar sector we tracked the following short interest changes: JA Solar Holdings Co. Ltd. (NASDAQ: JASO), LDK Solar Co. Inc. (NYSE: LDK), Suntech Power Holdings Co. Ltd. (NYSE: STP), Trina Solar Ltd. (NYSE: TSL) and Yingli Green Energy Holding Co. Ltd. (NYSE: YGE).
For China-based firms, the percentage of shares short is not available because the companies are also listed on other exchanges.
Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest fall 0.3% to 3.38 million shares, 11.2% of the company’s total float.
First Solar Inc. (NASDAQ: FSLR) short interest rise 4.2% to 29.8 million shares, which represents 49.6% of the company’s float.
GT Advanced Technologies Inc. (NASDAQ: GTAT) showed an increase of 2.5% in short interest, to 35.11 million shares, about 29.7% of GT’s float.
MEMC Electronic Materials Inc. (NYSE: WFR) showed a rise of 5.6% in short interest, to 21.55 million shares, about 9.4% of MEMC’s float.
Sunpower Corp. (NASDAQ: SPWR) saw short interest rise 4.1% to 4.21 million shares, 10.6% of the company’s total float.
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) showed an increase of 1.4% in short interest, to 8.79 million shares.
LDK Solar Co. Inc. (NYSE: LDK) saw short interest drop 4.9% to 7.89 million shares.
Suntech Power Holdings Co. Ltd. (NYSE: STP) showed a rise of 1.4% in short interest, to 18.58 million shares.
Trina Solar Ltd. (NYSE: TSL) saw short interest rise 6.1% to 13.47 million shares.
Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) showed a rise of 0.8% in short interest, to 6.13 million shares.
Chinese solar maker Trina Solar and wafer maker MEMC posted the largest gains in short interest during the two weeks to October 15. Trina has been specifically named in the U.S. anti-dumping case, as has Suntech, and MEMC’s problem is that the glut of solar panels has reduced the demand for wafers, which many of the Chinese makers have already added to the manufacturing capability. In general though, the relatively small increases in short interest in solar stocks indicates that there is probably not a lot of room left at the bottom.
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