Short Interest in Solar, Alt Energy Stocks Moving Higher

Short interest among solar and alternative energy stocks mostly increased during the two-week reporting period that ended on February 12. In the solar sector, four of the five companies we watch saw short interest rise. Three of four alt energy stocks also saw an increase in short interest during the period.

Perhaps the most interesting detail in this week’s report is that days to cover rose for three of the five solar stocks and for all four of the alt energy stocks at the same time that short interest rose on most of these stocks. Which poses the questions, “Who’s leaving and who’s staying?” The pros or the amateurs?

First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 15.2% to 6.41 million shares, which represents 8.7% of the company’s float. Days to cover rose from two to three. In the two-week short interest period, the stock’s share price fell by about 7.4%. The stock’s 52-week range is $40.25 to $72.12, and it closed at $69.45 on Wednesday, up about 12.4% for the day. The company reported good earnings results earlier this week and shared the good fortune with other solar PV makers of a favorable ruling from the World Trade Organization related to exports to India.

SunEdison Inc. (NYSE: SUNE) showed an increase of 5.4% in short interest, to 98.68 million shares. About 31.4% of the company’s float was short and days to cover rose from three to four. In the latest short interest reporting period, the share price fell by nearly 54%. The stock closed at $1.26 Wednesday, down about 5.3% for the day, in a 52-week range of $1.21 to $33.45. That low was posted Wednesday.
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SunPower Corp. (NASDAQ: SPWR) short interest rose by 1.9% to 11.21 million shares, or 19.6% of the company’s float. In the two weeks to February 12, the share price fell by nearly 11%. The stock’s 52-week range is $18.25 to $35.11 and it closed at $22.71 on Wednesday, up 10.5% for the day. Days to cover rose from five to seven. Shares tumbled more than 4% in Tuesday’s after-hours trading session, likely related to the poor outlook given by SolarCity.

SolarCity Corp. (NASDAQ: SCTY) saw short interest rise by 1.4% to 24.2 million shares, 39.5% of the company’s total float. Days to cover fell from six to three. In the two-week short interest period, the share price fell by around 5.2%. The stock’s 52-week range is $16.31 to $63.79, and shares closed at $18.90 Wednesday, up about 5.3% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a slight decline of 0.2% in short interest in the two-week period. Some 12.8% of the total float, 5.44 million shares, were short, and days to cover remained unchanged at two. The company’s shares dropped about 15.4% over the two weeks. Shares closed Wednesday at $21.81, up about 6.8% for the day, in a 52-week range of $14.16 to $40.08.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a decrease of 1.5% in short interest during the two-week period. Some 3.55 million shares were short as of February 12. The stock closed at $5.12 on Wednesday, up nearly 4% for the day, in a 52-week range of $4.51 to $17.40. Shares dropped about 8.3% in the short interest period, and days to cover rose from seven to nine.

Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by a slight 0.2% to 34.42 million shares. Days to cover rose from 12 to 27, and about 19.3% of the company’s shares were short. In the first two weeks in February, the stock’s share price fell by about 5.7%. The stock’s 52-week range is $1.30 to $3.14, and shares closed Wednesday at $1.86, up about 2.2% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw an increase of 2% in short interest to 14.99 million shares. About 21.2% of the company’s float was short and days to cover rose from 10 to 14. Shares fell by about 2% in the two-week period to February 12. The stock closed at $2.51 on Wednesday, up about 3.7%, in a 52-week range of $2.15 to $10.48.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 5.9% in the two-week period to 4.48 million shares, about 12.2% of the company’s float. Days to cover rose from four to six. The stock price rose about 3.5% in the two weeks to February 12. Shares closed at $3.69 on Wednesday, up about 6.7% on the day, in a 52-week range of $2.41 to $13.70.