Short Sellers Shy Away From Solar, Alternative Energy Stocks

Energy

Published: March 27, 2019 8:25 am

Last Updated: January 30, 2020 10:49 pm

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

First Solar Inc. (NASDAQ: FSLR) saw short interest drop by 6.4% to 9.96 million shares, which represents about 13.3% of the company’s float. Days to cover rose from four to seven. In the two-week short interest period, the stock’s share price increased by about 1.7%. Its 52-week trading range is $36.51 to $81.72, and it closed at $50.92 on Tuesday, down about 1.6% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest decreased by 3.8% to 21.93 million shares, or 35.8% of the company’s float. In the two weeks period to March 15, the share price decreased by about 1.6%. The stock’s 52-week range is $4.55 to $10.00, and it closed at $6.22 on Tuesday, up about 1.3% for the day. Days to cover rose from 12 to 15.

Canadian Solar Inc. (NASDAQ: CSIQ) saw an increase of 15.8% in short interest during the first two weeks of March. Some 8% of the total float, or 3.58 million shares, were short, and days to cover rose from three to five. The company’s shares traded down about 6.3% over the period, and shares closed Tuesday at $18.20, down about 1.7% for the day, in a 52-week range of $11.37 to $25.89.

Bloom Energy Corp. (NYSE: BE) short interest rose by 9.1% in the two weeks. Some 5.16 million shares were short, representing 36.5% of the company’s total float. Days to cover rose from three to four, and the stock price tumbled by 10.4% during the short interest period. Shares closed Tuesday at $11.99, up about 1.6% for the day, in a 52-week range of $8.88 to $38.00.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 0.6% in short interest during the period. Some 13.45 million shares were short as of March 15, about 12.1% of the total float. The stock closed at $0.30 on Tuesday, down about 1.5% for the day, in a 52-week range of $0.28 to $2.11. Shares traded down nearly 20% in the two-week period, and days to cover increased from two to three.

Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 4.8% to 38.53 million shares. Days to cover dipped from 13 to five, and about 16.7% of the company’s shares were short. In the first two weeks of March, the share price rose by more than 33%. The stock’s 52-week range is $0.99 to $2.65, and shares closed Tuesday at $2.40, up about 1.7% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a decrease of 2.3% in short interest to 2.96 million shares. About 2.2% of the company’s float was short, and days to cover slipped from four to two. The share price rose by more than 30% in the two weeks. The stock closed at $3.19 on Tuesday, up about 1.38% for the day, in a 52-week range of $1.53 to $4.05.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest drop by 15% in the period to 344,143 shares, about 0.8% of the company’s float. Days to cover fell to zero. The stock price fell by about 5.2% by March 15. Shares closed at $1.04 on Tuesday, up nearly 2% for the day, in a 52-week range of $0.76 to $3.95.

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