Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on March 15. In the solar sector, three 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.
The failed acquisition of Vivint Solar by SunEdison has rippled through solar industry, with other solar PV makers and installers getting something of a boost from the two erstwhile merger candidates.
First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 8.4% to 6.21 million shares, which represents 8.3% of the company’s float. Days to cover remained unchanged at three. In the two-week short interest period, the stock’s share price rose by about 0.8%. Its 52-week range is $40.25 to $74.29, and it closed at $68.46 on Thursday, up about 0.3% for the day. The 52-week high was posted March 18.
SunEdison Inc. (NYSE: SUNE) showed an increase of 12.1% in short interest to 119.56 million shares. About 38% of the company’s float was short, and days to cover remained at two. In the latest short interest reporting period, the share price fell by about 8%. The stock closed at $1.21 on Thursday, down 4.7% for the day, in a 52-week range of $1.15 to $33.45. The 52-week low was posted Thursday following news stories wondering whether the troubled company can file its annual report by March 30. If it does not, SunEdison violates a loan agreement and it must enter negotiations with lenders who are unlikely to be very sympathetic.
24/7 Wall St.SunPower Corp. (NASDAQ: SPWR) short interest rose by 1.6% to 12.85 million shares, or 22.5% of the company’s float. In the two weeks to March 15, the share price rose by about 3.3%. The stock’s 52-week range is $18.25 to $35.11, and it closed at $21.95 on Thursday, up about 0.4% for the day. Days to cover rose from five to nine.
SolarCity Corp. (NASDAQ: SCTY) saw short interest fall by 10.6% to 24.51 million shares, or 39.5% of the company’s total float. Days to cover dropped from five to four. In the short interest period, the share price rose by more than 45%. The stock’s 52-week range is $16.31 to $63.79, and shares closed at $22.22 on Thursday, down about 0.6% for the day. The share price boost resulted from deals for solar projects with Whole Foods and NRG Energy.
Canadian Solar Inc. (NASDAQ: CSIQ) saw an increase of 6.3% in short interest during the period. Some 12.5% of the total float, 5.32 million shares, were short, and days to cover remained unchanged at two. The company’s shares fell nearly 12% over the two weeks. The stock closed Wednesday at $18.85, up about 0.5% for the day, in a 52-week range of $14.16 to $40.08.
FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 7.8% in short interest during the two-week period. Some 3.5 million shares were short as of March 15. The stock closed at $6.94 on Thursday, up about 1.3% for the day, in a 52-week range of $4.51 to $16.32. Shares added more than 32% in the short interest period, and days to cover fell from seven to four.
Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 1.9% to 32.51 million shares. Days to cover fell from 19 to 12, and about 18.2% of the company’s shares were short. In the first half of the month, the stock’s share price fell by about 4.5%. Its 52-week range is $1.30 to $2.98, and shares closed most recently at $2.02, up about 3.6% for the day.
Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a decrease of 4% in short interest to 14.17 million shares. About 20.1% of the company’s float was short, and days to cover fell from 10 to five. Shares rose by more than 19% in the two-week period. The stock closed at $2.96, up about 1.7%, on Thursday, in a 52-week range of $2.15 to $10.48.
Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest tumble by 15.6% in the two-week period to 3.82 million shares, about 10.4% of the company’s float. Days to cover fell from nine to three. The stock price rose by nearly 32% by mid-March. Shares closed at $4.61 on Thursday, down about 0.7% 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.
Latest from 24/7
