Short Sellers Find More to Like in Solar and Alternative Energy Stocks

By Trey Thoelcke Updated Jan 12, 11:09AM EST · Published Jun 12, 7:10AM EDT

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Short Sellers Find More to Like in Solar and Alternative Energy Stocks — © Thinkstock

Short interest moves among solar and alternative energy stocks were mostly upward during the two-week reporting period that ended on May 31. Of the companies we watch, short interest rose on one of three solar stocks and on all four alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 11.2% to 13.81 million shares, which represents 18.0% of the company’s float. Days to cover rose from three to four. In the two-week short interest period, the stock’s share price added less than 4%. Its 52-week trading range is $25.56 to $50.40, and it closed at $36.65 on Friday, up about 3% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest shrank by 3.3% to 19.09 million shares, or 32.8% of the company’s float. In the two weeks to May 31, the share price rose by nearly 7%. The stock’s 52-week range is $5.84 to $16.60, and it closed at $8.01 on Friday, down about 2% for the day. Days to cover inched up from six to seven in the period.

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Canadian Solar Inc. (NASDAQ: CSIQ) saw a rise of 4.2% in short interest during the two weeks. Some 17.4% of the total float, or 7.69 million shares, were short, and days to cover remained at six. The company’s share price dipped by 3.2% over the period. Shares closed last Friday at $12.63, down almost 2% for the day, in a 52-week range of $10.25 to $17.62.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 24.8% in short interest during the two-week period. Some 7.70 million shares were short as of May 31. The stock closed at $1.10 on Friday, up 5.7% for the day, in a 52-week range of $0.80 to $6.44. Shares dropped more than 10% in the short interest period, and days to cover rose from four to seven.

Plug Power Inc. (NASDAQ: PLUG) saw short interest rise by 6.2% to 36.19 million shares. Days to cover rose from four to six, and about 17.3% of the company’s shares were short. In the final two weeks of May, the share price fell by about 10%. The stock’s 52-week range is $0.83 to $2.70, and shares closed Friday at $2.04, down more than 4% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw an increase of 4.4% in short interest to 8.08 million shares. About 6.3% of the company’s float was short, and days to cover rose to eight from five. The share price pulled back more than 5% in the two-week period. The stock closed at $2.43 on Friday, up about 1.2%, in a 52-week range of $218 to $4.80.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw a short interest gain 1.6% in the period to 1.29 million shares, about 3.2% of the company’s float. Days to cover remained unchanged at two. The stock price shed more than 13% in the two weeks. Shares closed at $6.05 on Friday, up about 1.7% on the day, in a 52-week range of $4.64 to $10.95.

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.