Energy

Short Interest in First Solar Down by Half, Alt Energy Mixed

Paul Ausick

Published: October 11, 2017 8:55 am

Last Updated: January 12, 2020 7:19 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on September 29. Of the companies we watch, short interest fell on two of three solar stocks and on two of four alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest drop by 48% to 5.58 million shares from a prior total of 10.75 million, and it represents about 7.2% of the company’s float. Days to cover fell from seven to one. In the short interest period through September 29, the stock’s share price fell by about 5.3%. Its 52-week trading range is $25.56 to $53.00, and it closed at $47.67 on Tuesday, up about 1.6% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest increased by 5.6% to 13.66 million shares, or 23.2% of the company’s float. In the two-week short interest period, the share price fell by nearly 15%. The stock’s 52-week range is $5.84 to $11.70, and it closed at $6.90 on Tuesday, down about 0.7% for the day. Days to cover remained unchanged at four.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a decrease of 7.1% in short interest during the two weeks. Some 11.2% of the total float, or 4.98 million shares, were short, and days to cover fell from five to three. The company’s share price declined by about 2.7% over the period, and shares closed Tuesday at $15.94, down less than 0.1% for the day, in a 52-week range of $10.25 to $18.12.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a decrease of 9.4% in short interest in the final two weeks of last month. Some 6.36 million shares were short as of September 29. The stock closed at $2.08 on Tuesday, down 2.8% for the day, in a 52-week range of $0.80 to $5.35. Shares traded up more than 14% in the short interest period, and days to cover fell from four to three.

Plug Power Inc. (NASDAQ: PLUG) saw short interest tumble by 23.7% to 30.5 million shares. Days to cover fell from 10 to three, and about 13.6% of the company’s shares were short. Between the settlement dates, the share price rose by about 17%. The stock’s 52-week range is $0.83 to $3.07, and shares closed Tuesday at $2.91, up about 1.4% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) has an increase of about 1% in short interest to 8.8 million shares. About 6.8% of the company’s float was short, and days to cover rose from nine to 11. The share price saw a gain of about 1.2% in the two-week period. The stock closed at $2.41 on Tuesday, up about 1.3% on the day, in a 52-week range of $2.18 to $4.44.

Pacific Ethanol Inc. (NASDAQ: PEIX) had short interest rise by 3.4% in the two-week period to 1.44 million shares, about 3.4% of the company’s float. Days to cover remained unchanged at three. The stock price added about 3.7% during that time. Shares closed at $5.50 on Tuesday, up nearly 1% on the day, in a 52-week range of $4.15 to $10.95.