Energy

Short Sellers Look for Direction in Solar, Alt Energy Stocks

Paul Ausick

Published: April 25, 2018 7:25 am

Last Updated: January 12, 2020 12:32 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on April 13. Of the companies we watch, short interest fell on two of three solar stocks and fell on two of four alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 5.1% to 4.2 million shares, which represents about 5.8% of the company’s float. Days to cover rose from two to four. In the two-week short interest period, the stock’s share price rose by about 1%. Its 52-week range is $27.41 to $78.95, and it closed at $74.07 on Tuesday, down about 0.4% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest decreased by 0.4% to 15.88 million shares, or 26.7% of the company’s float. In the two weeks to April 13, the share price rose by 5.4%. The stock’s 52-week range is $6.46 to $11.70, and it closed at $8.93 on Tuesday, down about 0.2% for the day. Days to cover rose from six to nine.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a decrease of 0.3% in short interest during the two weeks. Some 4% of the total float, or 1.79 million shares, were short, and days to cover rose from two to three. The company’s share price rose by about 0.9% over the period, and shares closed Tuesday at $15.36, down about 1% for the day, in a 52-week range of $12.07 to $19.09.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 3.3% in short interest during the short interest period. Some 7.88 million shares were short as of April 13. The stock closed at $1.95 on Tuesday, down about 1.5% for the day, in a 52-week range of $0.80 to $2.49. Shares traded up nearly 17% in the between the settlement dates, and days to cover fell from 12 to six.

Plug Power Inc. (NASDAQ: PLUG) saw short interest dip by 0.2% to 34.48 million shares. Days to cover rose from nine to 10, and about 15.3% of the company’s shares were short. In the two weeks to April 13, the share price rose by about 1.6%. The stock’s 52-week range is $1.53 to $3.21, and shares closed Tuesday at $1.86, down about 2.1% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of about 6.5% in short interest to 4.49 million shares. About 3.3% of the company’s float was short, and days to cover rose from three to six. The share price rose by 1.5% in the two-week period. The stock closed at $1.58 on Tuesday, up about 0.6% for the day, in a 52-week range of $1.31 to $3.05.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 21.7% in the period to 2.17 million shares, about 5.1% of the company’s float. Days to cover rose from three to five. The stock price fell by about 9% in the two weeks to April 13. Shares closed at $3.50 on Tuesday, up about 6.1% on the day, in a 52-week range of $2.75 to $7.50.