Energy

Short Sellers Launched Massive Attack on 1 Solar Stock

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Short interest moves among solar and alternative energy stocks were mixed again during the two-week reporting period that ended on August 31. In the solar sector three, of the five companies we watch saw short interest rise, and three of four alt energy stocks also saw a rise in short interest during the period.

First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 0.4% to 6.27 million shares, which represents 8.5% of the company’s float. Days to cover rose from two to three. In the two-week short interest period through August 31, shares dropped 6.4%. The stock’s 52-week trading range is $39.18 to $73.78, and it closed at $48.22 on Thursday, up about 1% for the day.

SunEdison Inc. (NYSE: SUNE) showed an increase of 2.5% in short interest, to 90.33 million shares. About 28.9% of the company’s float was short, and days to cover remained unchanged at two. In the latest two-week short interest reporting period, the share price tumbled by nearly 31%. The stock closed at $11.26 Thursday night, down nearly 6% for the day, in a 52-week range of $8.10 to $33.45. The company has received the equivalent of Buy ratings from two analyst firms this week, and the increase in short positions was a factor of 10 below the gain in the previous two-week period. The stock may have touched bottom.

SunPower Corp. (NASDAQ: SPWR) short interest fell by 1.5% to 6.94 million shares, or 12.2% of the company’s float. In the two-week short interest period to August 31, the share price declined by about 1%. The stock’s 52-week range is $18.25 to $38.6, and it closed at $23.25 on Thursday, down about 2.2% for the day. Days to cover remained unchanged at four.

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SolarCity Corp. (NASDAQ: SCTY) saw a short interest rise of 9.7% to 28.5 million shares, or 47.9% of the company’s total float. Days to cover fell from seven to six. In the two-week short interest period, the share price fell about 3.6%. The stock’s 52-week range is $34.65 to $75.90, and shares closed at $48.12 on Thursday, up about 2.1% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a rise of 76.6% in short interest in the two-week period. Some 13.8% of the total float, 5.87 million shares, were short, and days to cover remained unchanged at one. The company’s shares rose fell nearly 24% over the two-week period. Shares closed Tuesday at $19.37, up about 1% for the day, in a 52-week range of $14.16 to $40.82. The sharp rise in short interest could be due to concerns among investors about eroding margins once the company completes some large projects later this year.

FuelCell Energy Inc. (NASDAQ: FCEL) had a rise of 0.3% in short interest during the two-week period. About 16.9% of the company’s float, 43.14 million shares, was short, and days to cover rose from 19 to 31. In the two-week short interest period, the shares added about 1.7%. The stock closed at $0.96 on Tuesday, up about 3.2% for the day, in a 52-week range of $0.64 to $2.51.

Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 0.7% to 33.96 million shares. Days to cover fell from 10 to eight, and about 19.7% of the company’s shares were short. In the two weeks to August 31, the stock’s share price fell by about 25%. The stock’s 52-week range is $1.56 to $5.48, and shares closed Tuesday at $1.69, down about 0.6% for the day.

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Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a rise of 5.2% in short interest to 18.61 million shares. About 26.4% of the company’s float was short, and days to cover rose from 10 to 11. Shares added about 5.6% in the two-week period to August 31. The stock closed at $4.75, down about 0.6%, on Thursday, in a 52-week range of $3.73 to $10.48.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 7.1% in the two-week period to 3.04 million shares, about 7.5% of the company’s float. Days to cover rose from three to four. The stock price fell by about 8.8% in the final two weeks of August. The stock closed at $7.19 on Thursday, down about 0.6% on the day, in a 52-week range of $6.11 to $21.75.

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