Short Sellers Lose Interest in Solar Stocks, Gain Interest in Alternative Fuels

Energy

Published: July 26, 2017 8:00 am

Last Updated: January 12, 2020 9:46 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on July 14. Of the companies we watch, short interest fell on all three solar stocks and rose on all four alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 8.2% to 11.42 million shares, which represents about 14.9% 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 7.1%. Its 52-week trading range is $25.56 to $49.50, and it closed at $45.46 on Tuesday, up about 1% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest decreased by 8.7% to 16.85 million shares, or 28.6% of the company’s float. In the two weeks to July 14, the share price rose by about 6.6%. The stock’s 52-week range is $5.84 to $16.27, and it closed at $10.99 on Tuesday, down about 0.6% for the day. Days to cover remained unchanged at five.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a drop of 9% in short interest during the period. Some 13.4% of the total float, or 5.95 million shares, were short, and days to cover rose from three to five. The company’s share price rose about 5.3% over the two weeks, and shares closed Tuesday at $16.57, down 0.9% for the day. The 52-week range is $10.25 to $18.12.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 16.1% in short interest during the first two weeks of this month. Some 6.94 million shares were short as of July 14. The stock closed at $1.48 on Tuesday, up about 2.1% for the day, in a 52-week range of $0.80 to $5.67. Shares rose about 10% in the short interest period, and days to cover rose from four to eight.

Plug Power Inc. (NASDAQ: PLUG) saw short interest rise by 1.3% to 39.13 million shares. Days to cover jumped from six to 16, and about 17.7% of the company’s shares were short. In the two weeks to July 14, the share price rose by about 1%. The stock’s current 52-week range is $0.83 to $2.70, and shares closed Tuesday at $2.32, down 2.1% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw an increase of about 2.4% in short interest to 9.83 million shares. About 7.7% of the company’s float was short, and days to cover fell from seven to three. The share price rose by about 6.6% in the two-week period. The stock closed at $2.99 on Tuesday, up nearly 4.6%, in a 52-week range of $2.18 to $4.80.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 1.7% in the period to 1.87 million shares, or about 4.5% of the company’s float. Days to cover fell from three to two. The stock price added about 1.6% in the two weeks. Shares closed at $6.30 on Tuesday, up 3.7% on the day, in a 52-week range of $5.62 to $10.95.

The Average American Is Losing Their Savings Every Day (Sponsor)

If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.

Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.

But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.