Short Sellers Rekindle Enthusiasm for Solar

Short interest moves among solar stocks increased during the two-week reporting period that ended on November 13. In the solar sector all five companies we watch saw short interest rise. Meanwhile, three of four alt energy stocks saw a decrease in short interest during the period, but short interest rose sharply in the only ethanol maker on the list.

First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 2.9% to 5.72 million shares, which represents 7.7% of the company’s float. Days to cover remained unchanged at three. In the two-week short interest period through November 13, shares rose about 3.4%. The stock’s 52-week range is $39.18 to $65.50 and it closed at $56.17 on Tuesday up about 2.4% for the day.

SunEdison Inc. (NYSE: SUNE) showed an increase of 5.7% in short interest, to 92.1 million shares. About 29.5% of the company’s float is now short and days to cover remained unchanged at three. In the latest two-week short interest reporting period, the share price fell by more than 40%. The stock closed at $4.12 Tuesday night, up about 37% for the day, in a 52-week range of $2.55 to $33.45. The company repaid $410 million on a $415 million margin loan on Tuesday, brightening its prospects considerably.

Sunpower Corp. (NASDAQ: SPWR) short interest rose by 6.1% to 6.45 million shares, or 11.3% of the company’s float. In the two-week short interest period to November 13, the share price fell by nearly 15%. The stock’s 52-week range is $18.25 to $35.11 and it closed at $24.08 on Tuesday, up about 4% for the day. Days to cover remained unchanged at five.

SolarCity Corp. (NASDAQ: SCTY) saw short interest rise by 9.1% to 29.46 million shares, its highest level of short interest in the past 12 months and 49% of the company’s total float. Days to cover rose from five to six. In the two-week short interest period, the share price fell by about 32%. The stock’s 52-week range is $24.07 to $63.79, and shares closed at $28.57 Tuesday night, up about 1.3% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a rise of 3.6% in short interest in the two-week period to November 13. Some 15.2% of the total float, 6.47 million shares, are short, and days to cover fell from three to two. The company’s shares lost just 0.6% over the two-week period. Shares closed Tuesday at $21.85, up about 3.4% for the day, in a 52-week range of $14.16 to $40.08.

FuelCell Energy Inc. (NASDAQ: FCEL) had a drop of less than 1% in short interest during the two-week period. About 13.9% of the company’s float, 35.85 million shares, is short and days to cover fell from 23 to 18. In the two-week short interest period the shares fell by 2.9%. The stock closed at $0.848 on Tuesday, up about 4.2% for the day, in a 52-week range of $0.64 to $1.81.

Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 0.6% to 35.07 million shares. Days to cover dropped from 15 to 6 and about 20.4% of the company’s shares are short. In the two weeks to November 13, the stock’s share price fell by 23%. The stock’s 52-week range is $1.56 to $4.03 and shares closed Tuesday at $1.94, up 1% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 4.7% in short interest to 16.22 million shares. About 22.9% of the company’s float is short and days to cover dropped from 17 to 12. Shares dropped about 9.7% in the two-week period to November 13th. The stock closed at $4.91, up more than 3%, on Tuesday in a 52-week range of $3.73 to $10.48.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 17.1% in the two-week period to 3.8 million shares, about 9.4% of the company’s float. Days to cover slipped from five to three. The stock price fell more than 23% in the two weeks to November 13. The stock closed at $4.03 on Tuesday, up about 5.2% on the day, in a 52-week range of $3.74 to $14.04.

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