Energy

Short Sellers Continue Walking Away From Solar Stocks

Paul Ausick

Published: June 27, 2017 9:20 am

Last Updated: January 12, 2020 10:39 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on June 15.  Of the companies we watch, short interest fell on all three solar stocks and two alt energy stocks, while rising on two other alt energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 4.4% to 13.21 million shares, which represents about 17.2% of the company’s float. Days to cover rose from four to six. In the two-week short interest period, the stock’s share price shed about 9.5%. Its 52-week range is $25.56 to $49.50, and it closed at $40.17 on Monday, up about 1.1% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest decreased by 0.5% to 19 million shares, or 32.2% of the company’s float. In the two-week period to June 15, the share price fell by 6.9%. The stock’s 52-week range is $5.84 to $16.41, and it closed at $9.05 on Monday, down 1.2% for the day. Days to cover rose from seven to 11.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a drop of 3.3% in short interest during the two-week period. Some 16.8% of the total float, or 7.43 million shares, were short, and days to cover remained unchanged at six. The company’s share price dipped by 6.6% over the period, and shares closed Monday at $15.62, down about 1% for the day, in a 52-week range of $10.25 to $16.16.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a decrease of 7.1% in short interest during the period. Some 7.16 million shares were short as of June 15. The stock closed at $1.30 on Monday, up 8.3% for the day, in a 52-week range of $0.80 to $6.44. Shares jumped 14% in the short interest period, and days to cover rose from seven to eight.

Plug Power Inc. (NASDAQ: PLUG) saw short interest rise by 2.9% to 37.24 million shares. Days to cover remained unchanged at six, and about 16.8% of the company’s shares are short. In the two weeks to June 15, the share price rose by nearly 11%. The stock’s 52-week range is $0.83 to $2.70, and shares closed Monday at $2.18, down about 3.1% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw an increase of about 3.3% in short interest to 8.35 million shares. About 6.5% of the company’s float was short, and days to cover remained unchanged at eight. The share price rose by about 8.2% in the first two weeks of this month. The stock closed at $2.57 on Monday, up about 3.2%, in a 52-week range of $2.18 to $4.80.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest drop by 10% in the two-week period to 1.17 million shares, about 2.9% of the company’s float. Days to cover remained unchanged at two. The stock price added less than 1% in the two weeks. Shares closed at $6.20 on Monday, up about 3.3% on the day, in a 52-week range of $4.64 to $10.95.