Short Interest Waning in Solar Stocks, Plunges on One Alternative Fuel Stock

By Paul Ausick Updated Jan 12, 9:16AM EST · Published Aug 10, 7:35AM EDT

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Short Interest Waning in Solar Stocks, Plunges on One Alternative Fuel Stock — © Thinkstock

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

First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 4.2% to 10.95 million shares, which represents about 14.2% of the company’s float. Days to cover fell from six to three. In the two-week short interest period, the stock’s share price added nearly 19%. Its 52-week trading range is $25.56 to $50.21, and it closed at $47.43 on Wednesday, down about 0.9% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest decreased by 9.5% to 15.26 million shares, or 25.9% of the company’s float. In the short interest period, the share price rose by nearly 13%. The stock’s 52-week range is $5.84 to $11.70, and it closed at $9.33 on Wednesday, down about 0.2% for the day. Days to cover dropped from five to four.

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Canadian Solar Inc. (NASDAQ: CSIQ) saw a drop of 10.7% in short interest during the two weeks to July 31. Some 12% of the total float, or 5.31 million shares, were short, and days to cover slipped from five to four. The company’s share price rose about 3.7% in the period, and shares closed Wednesday at $17.21, down about 1.3% for the day. The 52-week range is $10.25 to $18.12.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a decrease of 5.5% in short interest during the two-week period. Some 6.56 million shares were short as of July 31. The stock closed at $1.51 on Wednesday, down about 4.4% for the day, in a 52-week range of $0.80 to $5.67. Shares rose nearly 11% in the short interest period, and days to cover fell from eight to five.

Plug Power Inc. (NASDAQ: PLUG) saw short interest rise by 2.2% to 39.98 million shares. Days to cover remained unchanged at six, and about 18% of the company’s shares were short. In the final two weeks of July, the share price rose by more than 8%. The stock’s 52-week range is $0.83 to $2.70, and shares closed Wednesday at $2.14, down about 1.4% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw an increase of about 6.6% in short interest to 10.48 million shares. About 8.2% of the company’s float was short, and days to cover rose from three to eight. The share price fell by about 4.4% in the two-week period. The stock closed at $2.30 on Wednesday, down about 2.5%, in a 52-week range of $2.18 to $4.80.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest tumble by 24.2% in the period to 1.41 million shares, about 3.4% of the company’s float. Days to cover remained unchanged at two. The stock price added about 0.8% in the two weeks. Shares closed at $5.25 on Wednesday, down about 1.9% on the day, in a 52-week range of $5.20 to $10.95. The low was posted yesterday.

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About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.