Short Sellers Retreat From Most Solar, Alt Energy Stocks

Energy

Published: November 28, 2018 7:40 am

Last Updated: January 11, 2020 2:25 pm

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on November 15. Of the companies we watch, short interest fell on two of three solar stocks and on four of five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest rise by 29% to 11.7 million shares, which represents about 15.6% of the company’s float. Days to cover rose from four to six. In the short interest period through November 15, the stock’s share price rose by about 6.2%. Its 52-week range is $36.51 to $81.72, and it closed at $44.87 on Tuesday, up about 3.3% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest fell by 0.8% to 22.06 million shares, or 36.1% of the company’s float. In the two-week short interest period, the share price rose by about 6%. The stock’s 52-week range is $5.76 to $10.00, and it closed at $7.16 on Tuesday, up about 1.6% for the day. Days to cover rose from 11 to 12.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a decrease of 13.6% in short interest during the two-week period. Some 8.3% of the total float, or 3.7 million shares, were short, and days to cover fell from five to four. The company’s shares traded up about 4.5% over the period, and shares closed Tuesday at $17.52, up almost 5% for the day, in a 52-week range of $11.37 to $19.09.

Bloom Energy Corp. (NYSE: BE) short interest dipped by 3.8% in the two weeks to November 15. Some 3.28 million shares were short, representing 18.9% of the company’s total float. Days to cover decreased from nine to four, and the stock price fell by about 34% during the short interest period. Shares closed Tuesday at $14.50, down about 1.4% for the day, in a 52-week range of $13.36 to $38.00.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a drop of 7% in short interest during the two-week period. Some 11.1 million shares were short as of November 15, about 12% of the total float. The stock closed at $0.67 on Tuesday, down about 5% for the day, in a 52-week range of $0.67 to $2.17. Shares traded up about 4% in the short interest period, and days to cover rose from 12 to 23.

Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 3.7% to 33.8 million shares. Days to cover rose from 15 to 19, and about 16% of the company’s shares were short. In the two weeks to November 15, the share price dipped by about 0.2%. The stock’s 52-week range is $1.53 to $2.59, and shares closed Tuesday at $1.76, up about 1.7% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a decrease of 2.4% in short interest to 4.86 million shares. About 3.6% of the company’s float was short, and days to cover fell from seven to five. The share price rose by 3.3% in the two weeks to November 15. The stock closed at $2.25 on Tuesday, flat for the day, in a 52-week range of $1.31 to $4.05.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 11.4% in the period to 1.16 million shares, about 2.7% of the company’s float. Days to cover rose from one to three. The stock price rose by about 3.3% in the two weeks to November 15. Shares closed at $1.59 on Tuesday, up about 2.6% for the day, in a 52-week range of $1.38 to $4.90.

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