Energy

Short Sellers Wavering on Solar Stocks, Mixed on Alternative Fuels

Paul Ausick

Published: February 12, 2019 8:10 am

Last Updated: January 31, 2020 12:44 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on January 31. Of the companies we watch, short interest rose on two of three solar stocks and on two of six alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest decline by 0.7% to 10.66 million shares, which represents about 14.2% of the company’s float. Days to cover remained at seven. In the two-week short interest period, the stock’s share price dipped by about 2.5%. Its 52-week range is $36.51 to $81.72, and it closed at $49.72 on Monday, up about 3.4% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest increased by 1.3% to 23.52 million shares, or 38.4% of the company’s float. In the short interest period, the share price decreased by about 1.4%. The stock’s 52-week range is $4.55 to $10.00, and it closed at $5.81 on Monday, up about 1.8% for the day. Days to cover remained at 16.

Canadian Solar Inc. (NASDAQ: CSIQ) saw an increase of 3.9% in short interest during the latter two weeks of January. Some 7% of the total float, or 3.16 million shares, were short, and days to cover remained unchanged at four. The company’s shares traded down less than 1% over the two-week period, and they closed Monday at $21.33, up about 3.8% for the day, in a 52-week range of $11.37 to $22.19.

Bloom Energy Corp. (NYSE: BE) short interest drop by 9% in the two weeks to January 31. Some 4.24 million shares were short, representing 28.1% of the company’s total float. Days to cover fell from 10 to five, and the stock price slipped by less than 1% during the period. Shares closed Monday at $9.41, down about 6.5% for the day, in a 52-week range of $8.88 to $38.00.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a drop of 5.2% in short interest during the two-week period. Some 16.6 million shares were short as of January 31, about 16.1% of the total float. The stock closed at $0.44 on Monday, down about 1.9% for the day, in a 52-week range of $0.43 to $2.11. Shares traded down about 14.6% in the short interest period, and days to cover increased from eight to 12.

Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 2.4% to 38.82 million shares. Days to cover rose from eight to 20, and about 16.8% of the company’s shares were short. In the final two weeks of January, the share price dipped by about 1.1%. The stock’s 52-week range now is $0.99 to $2.27, and shares closed Monday at $1.36, up about 1.5% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 8.5% in short interest to 3.32 million shares. About 2.5% of the company’s float was short, and days to cover rose from six to eight. The share price fell by about 5% in the period. The stock closed at $1.80 on Monday, up about 3.5% for the day, in a 52-week range of $1.31 to $4.05.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest soar by 58.5% in the two-week period to 590,798 shares, about 1.3% of the company’s float. Days to cover rose from one to two. The stock price tumbled by about 11% in that time. Shares closed at $1.14 on Monday, unchanged on the day, in a 52-week range of $0.76 to $4.50.