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.
Is Your Money Earning the Best Possible Rate? (Sponsor)
Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.
However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.
There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
