Energy

Short Sellers Wading Back in on Solar, Alt Energy Stocks

Paul Ausick

Published: May 10, 2017 8:55 am

Last Updated: January 12, 2020 12:09 pm

Short interest moves among solar and alternative energy stocks were mostly downward during the two-week reporting period that ended on April 28. Of the companies we watch, short interest rose on all three solar stocks and on three of four alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 11.3% to 19.85 million shares, which represents about 25.8% of the company’s float. Days to cover rose from five to six. In the two-week short interest period, the stock’s share price added about 5.9%. Its 52-week trading range is $25.56 to $51.97, and it closed at $35.78 on Tuesday, up about 1.8% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest increased by 6.8% to 21.66 million shares, or 37.2% of the company’s float. In the two-week period to April 28, the share price rose by 3.1%. The stock’s 52-week range is $5.84 to $18.08, and it closed at $7.11 on Tuesday, flat for the day. Days to cover rose from six to 10.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a rise of 5.5% in short interest during the two-week period. Some 15.6% of the total float, or 6.9 million shares, were short, and days to cover fell from nine to seven. The company’s share price rose by nearly 4% between the settlement dates, and shares closed Tuesday at $13.74, up about 2.2% for the day, in a 52-week range of $10.25 to $19.65.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 29.4% in short interest during the short interest period. Some 5.62 million shares were short as of April 28. The stock closed at $1.12 on Tuesday, unchanged for the day, in a 52-week range of $1.00 to $8.88. Shares plunged 30% in the final weeks of last month, and days to cover remained unchanged at three.

Plug Power Inc. (NASDAQ: PLUG) saw short interest drop by 6.4% to 30.92 million shares. Days to cover rose from one to three, and about 14.7% of the company’s shares were short. In the two weeks to April 28, the share price fell by about 3.5%. The stock’s 52-week range is $0.83 to $2.70, and shares closed Tuesday at $2.09, down about 7.5% for the day, following the company’s earnings report for the first quarter.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw an increase of about 0.5% in short interest to 7.26 million shares. About 5.6% of the company’s float was short, and days to cover rose from six to eight. The share price fell by about 3.6% in the two-week period. The stock closed at $2.51 on Tuesday, up about 0.4%, in a 52-week range of $2.35 to $4.80.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 4.1% in the period to 1.2 million shares, about 3% of the company’s float. Days to cover remained unchanged at two. The stock price shed about 2.2% by the end of the month. Shares closed at $7.00 on Tuesday, unchanged on the day, in a 52-week range of $4.09 to $10.95.