Energy

Share Price Increases Boost Short Interest in Solar, Alt Energy Stocks

Alternative Energy sources
thinkstock
Short interest among solar and alternative energy stocks was mixed again during the two-week reporting period that ended on February 27. Solar stocks generally saw a rise in short interest, while the alternative fuel stocks all experienced a rise in short interest.

The big news here is the joint venture 8point3 Energy Partners, which filed a preliminary prospectus for an initial public offering. The announcement triggered a sharp jump in the share prices of the two partners, First Solar and SunPower. The impact on short sellers was different though, as First Solar saw a sharp increase in short interest while SunPower posted a drop.

First Solar Inc. (NASDAQ: FSLR) saw short interest increase by about 15.2% to 9.28 million shares, which represents 12.6% of the company’s float. Days to cover fell to one. In the two-week short interest period to February 27, shares rose more than 22%. The stock’s 52-week range is $39.18 to $74.84, and it closed at $59.86 on Tuesday.

SunEdison Inc. (NYSE: SUNE) showed an increase of 6.3% in short interest to 83.39 million shares. About 31% of the company’s stock is now short and days to cover fell to six. In the latest two-week short interest reporting period, shares rose about 3.2%. The stock closed at $22.17 Wednesday, in a 52-week range of $13.09 to $24.35.

ALSO READ: Short Sellers Lose Conviction in Major Semiconductor Stocks

SunPower Corp. (NASDAQ: SPWR) short interest fell by 3.4% to 9.54 million shares, or 18.3% of the company’s float. In the two-week short interest period, shares gained more than 15%. The stock’s 52-week range is $22.75 to $42.07, and it closed at $32.29 on Tuesday. Days to cover was two.

SolarCity Corp. (NASDAQ: SCTY) saw a short interest rise by 7.3% to 19.32 million shares, 34.4% of the company’s total float. Days to cover fell to five. In the two-week short interest period, shares fell nearly 11%. The stock’s 52-week range is $45.79 to $79.40, and shares closed at $49.72.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a rise of 12.6% in short interest in the two-week period to February 27. Some 11.4% of the stock, 4.72 million shares, are short, and days to cover rose to two. The company’s shares rose nearly 3% over the two weeks. Shares closed Wednesday night at $31.65, in a 52-week range of $18.68 to $41.12.

FuelCell Energy Inc. (NASDAQ: FCEL) had a rise of 1% in short interest during the two-week period. About 13% of the company’s stock, 31.6 million shares, is short and days to cover rose to 14. In the two-week short interest period, the share price was unchanged. The stock closed at $1.28 on Tuesday, in a 52-week range of $1.05 to $3.69.

Plug Power Inc. (NASDAQ: PLUG) saw short interest rise by 0.9% to 31.52 million shares. Days to cover fell to six and about 18.9% of the company’s shares are short. In the two weeks to February 27, the stock’s share price fell about 2%. The stock’s 52-week range is $2.48 to $8.48, and shares closed Wednesday at $2.86.

ALSO READ: The Most Shorted Nasdaq Stocks List Still Topped by Sirius XM

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a rise of 4.1% in short interest to 15.49 million shares. About 22.1% of the company’s shares are short and days to cover fell to six. Shares rose about 10.5% in the two-week period. The stock closed at $5.18 on Tuesday, in a 52-week range of $3.99 to $11.79.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 5.1% in the two-week period to 3.84 million shares, about 17% of the company’s float. Days to cover remained unchanged at four. The stock price fell about 6.5% in the two weeks to February 27. The stock closed at $10.40 on Tuesday, in a 52-week range of $7.51 to $23.97.

 

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.