Energy

Short Interest in Solar Stocks Rises with Share Prices

Thinkstock

Short interest moves among solar and alternative energy stocks mostly increased during the two-week reporting period that ended on February 29. In the solar sector, four of the five companies we watch saw short interest rise. Three of four alt energy stocks saw a decrease in short interest during the period.

A recent research report from Deutsche Bank rated three of the solar companies we cover as a Buy.

First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 5.6% to 6.77 million shares, which represents 9.1% of the company’s float. Days to cover slipped from three to two. In the two-week short interest period through February 29, the stock’s share price rose by about 17%. The stock’s 52-week range is $40.25 to $73.71 and it closed at $68.49 on Wednesday, up about 2.4% for the day. On March 1, JPMorgan cut its rating on the stock from Overweight to Neutral and essentially said that it believed the stock was fairly valued at around $69 a share.

SunEdison Inc. (NYSE: SUNE) showed an increase of 8.1% in short interest to 106.65 million shares. About 34% of the company’s float was short, and days to cover fell from four to two. In the latest two-week short interest reporting period, the share price fell by about 2.9%. The stock closed at $1.92 on Wednesday, down 4% for the day, in a 52-week range of $1.21 to $33.45. Most of the recent bad news for the company came following the close of the short interest period, but the stock posted its 52-week low on February 24.


SunPower Corp. (NASDAQ: SPWR) short interest rose by 16.6% to 13.08 million shares, or 22.9% of the company’s float. In the two-week short interest period to February 29, the share price rose by nearly 16%. The stock’s 52-week range is $18.25 to $35.11, and it closed at $22.98 on Wednesday, up 2% for the day. Days to cover remained unchanged at five.

SolarCity Corp. (NASDAQ: SCTY) saw short interest rise by 13.4% to 27.44 million shares, 44.5% of the company’s total float. Days to cover rose from three to five. In the two-week short interest period, the share price rose by about 10.6%. The stock’s 52-week range is $16.31 to $63.79, and shares closed at $26.20 Wednesday night, up about 4.5% for the day. Earlier this week, the company signed a deal with Whole Foods Market to install rooftop solar panels on more of the organic grocer’s stores.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a decline of 7.9% in short interest in the two-week period to February 29. Some 11.8% of the total float, 5.01 million shares, ere short, and days to cover remained unchanged at two. The company’s shares jumped 44.5% between the settlement dates. Shares closed Wednesday at $21.76, up about 2% for the day, in a 52-week range of $14.16 to $40.08.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a decrease of 8.6% in short interest during the two-week period. Some 3.25 million shares were short as of the end of the month. The stock closed at $7.07 on Wednesday, up more than 10% for the day, in a 52-week range of $4.51 to $16.32. Shares added more than 21% in the two-week short interest period, and days to cover fell from nine to seven.

Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by a 3.8% to 33.13 million shares. Days to cover fell from 27 to 19, and about 18.6% of the company’s shares were short. In the two weeks to February 29, the stock’s share price rose by more than 29%. Its 52-week range is $1.30 to $2.98, and shares closed Wednesday at $1.90, down about 2.6% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a decrease of 1.6% in short interest to 14.76 million shares. About 20.9% of the company’s float was short, and days to cover fell from 14 to 10. Shares rose by nearly 25% in the two-week period. The stock closed at $3.42, up more than 13%, on Wednesday, in a 52-week range of $2.15 to $10.48.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 1.1% in the two-week period to 4.53 million shares, about 12.3% of the company’s float. Days to cover rose from six to nine. The stock price increased more than 21% in the two weeks. Shares closed at $4.21 on Wednesday, down about 1% on the day, in a 52-week range of $2.41 to $13.70.

Want to Retire Early? Start Here (Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

 

Have questions about retirement or personal finance? Email us at [email protected]!

By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.

By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.

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