Did Short Sellers Call a Bottom in Solar Stocks?

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By Paul Ausick Updated Published
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Short interest among solar and alternative energy stocks was mixed during the two-week reporting period that ended on April 30. With some exceptions, share prices fell during the period.

Short interest in solar-related stocks fell for the panel makers and rose for the installation firm. Among the alternative fuel makers short interest was mixed, with the fuel cell makers seeing a drop and the liquid fuel makers seeing a slight rise in short interest.

First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by about 8.3% to 6.61 million shares, which represents 8.9% of the company’s float. Days to cover fell to 3.7. In the two-week period to April 30, shares declined about 2.3%. The stock’s 52-week range is $39.18 to $73.78, and it closed at $56.38 on Monday, up fractionally for the day.

SunEdison Inc. (NYSE: SUNE) showed a drop of 1% in short interest, to 79.79 million shares. About 29.4% of the company’s float is now short, and days to cover slipped to 9.4. In the latest short interest reporting period, the share price fell about 4.5%. The stock closed at $28.75 Monday, in a 52-week range of $13.09 to $28.99, and the high was posted Monday.

ALSO READ: Are Short Sellers Expecting a Rally in Semiconductor Stocks?

SunPower Corp. (NASDAQ: SPWR) short interest fell by 0.9% to 5.42 million shares, or 10.1% of the company’s float. In the short interest period, shares slipped about 1.4%. The stock’s 52-week range is $22.75 to $42.07, and it closed at $32.87 on Monday, up nearly 1% for the day. Days to cover decreased to 3.4.

SolarCity Corp. (NASDAQ: SCTY) saw a short interest rise by 2.3% to 19.81 million shares, or 34% of the company’s total float. Days to cover rose to 8.1. In the two-week short interest period, shares rose by about 9%. The stock’s 52-week range is $45.91 to $79.40, and shares closed at $61.17 Monday night, down fractionally for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a drop of 16.9% in short interest in the period to April 30. Some 7.9% of the total float, 3.35 million shares, were short, and days to cover slipped to 1.8. The company’s shares rose about 1% over the two-week period. Shares closed Monday at $39.09, up about 5.4% for the day, in a 52-week range of $18.68 to $41.12.

FuelCell Energy Inc. (NASDAQ: FCEL) had a drop of 0.2% in short interest during the two-week period. About 13.3% of the company’s float, 32.5 million shares, was short and days to cover fell to 10. In the short interest period, the shares lost about 4.7%. The stock closed at $1.24 on Monday, in a 52-week range of $1.05 to $2.84.

Plug Power Inc. (NASDAQ: PLUG) saw short interest drop by 1.5% to 30.34 million shares. Days to cover rose to 14.3, and about 17.6% of the company’s shares were short. In the two weeks to April 30, the stock’s share price fell by 4.9%. Its 52-week range is $2.32 to $6.47, and shares closed Monday at $2.55, up nearly 5% for the day. The company reported first-quarter results Monday.

ALSO READ: The 5 Most Shorted Nasdaq Stocks

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a rise of 9.2% in short interest to 17.94 million shares. About 25.5% of the company’s float is short and days to cover fell to 5.5. Shares rose more than 40% in the two-week period. The stock closed at $8.84 on Monday, in a 52-week range of $3.99 to $11.79. The share price rose by about 0.2% on the day.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 9.1% in the two-week period to 4.39 million shares, about 19.4% of the company’s float. Days to cover slipped to 4.2. The stock price rose about 1.5% in the period. The stock closed at $11.83 on Monday, down about 2% on the day, in a 52-week range of $7.51 to $23.97.

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About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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