Energy
Short Interest Continues Rising on Solar, Alternative Energy Stocks
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Short interest moves among solar and alternative energy stocks trended higher again during the two-week reporting period that ended on March 15. Of the companies we watch, short interest rose on all three solar stocks and on two of four alternative energy stocks.
First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 0.5% to 18.64 million shares, which represents about 24.3% of the company’s float. Days to cover rose from three to nine. In the two-week short interest period, the stock’s share price dropped about 12.8%. Its 52-week trading range is $28.05 to $70.29, and it closed at $28.31 on Friday, down about 0.9% for the day.
SunPower Corp. (NASDAQ: SPWR) short interest increased by 8% to 20.14 million shares, or 34.6% of the company’s float. In the short interest period, the share price sank by about 21%. The stock’s 52-week range is $5.84 to $23.30, and it closed at $6.07 on Friday, down about 2.4%. Days to cover rose from three to seven.
Canadian Solar Inc. (NASDAQ: CSIQ) saw a rise of 6.6% in short interest during the two weeks. Some 14.2% of the total float, 6.28 million shares, were short, and days to cover remained unchanged at six. The company’s share price fell by about 8% over the period, and shares closed Friday at $11.15, down about 4.2% for the day, in a 52-week range of $10.25 to $19.92.
FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 12.4% in short interest during the first two weeks of this month. Some 4.24 million shares were short as of March 15. The stock closed at $1.35 on Friday, down 1.8% for the day, in a 52-week range of $1.25 to $8.88. Shares dropped 12.5% in the short interest period, and days to cover slipped from eight to seven.
Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 3.2% to 36.09 million shares. Days to cover rose from three to 10, and about 19.1% of the company’s shares were short. In the two weeks to March 15, the share price fell by about 6.4%. The stock’s 52-week range is $0.83 to $2.28, and shares closed Friday at $1.36, up about 6.3% for the day.
Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a rise of about 21.7% in short interest to 8.8 million shares. About 7.6% of the company’s float was short, and days to cover fell from six to three. The share price retreated by about 2.8% in the two-week period. The stock closed at $2.42, up about 0.8%, on Friday, in a 52-week range of $2.38 to $4.80.
Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest slip by 0.2% in the two-week period to 1.14 million shares, about 3% of the company’s float. Days to cover went from three to two. The stock price shed about 11.2% in the two weeks to March 15. Shares closed at $6.80 on Friday, unchanged on the day, in a 52-week range of $3.67 to $10.95.
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