Big Short Interest Moves in Some Solar, Alternative Energy Stocks

Energy

Published: May 10, 2019 8:00 am

Last Updated: January 30, 2020 8:57 pm

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on April 30. Of the companies we watch, short interest increased on two of three solar stocks and on three of five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest drop by 7.5% to 10.95 million shares, which represents about 14.6% of the company’s float. Days to cover rose from eight to 10. In the two-week short interest period, the stock’s share price increased by about 1.2%. Its 52-week range is $36.51 to $75.75, and it closed at $58.92 on Thursday, down about 2.3% for the day.

SunPower Corp.’s (NASDAQ: SPWR) short interest decreased by 6.9% to 19.64 million shares, or 31.5% of the company’s float. Days to cover rose from 12 to 15 in the two weeks to April 30, and the share price dipped by about 2.5%. The stock’s 52-week range is $4.55 to $9.60, and it closed at $7.38 on Thursday, down by about 2.6% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a jump of 18.5% in short interest during the two weeks. Some 8.6% of the total float, or 3.91 million shares, were short, and days to cover remained unchanged at five. The company’s shares traded up about 4.4% over the period, and shares closed Thursday at $18.87, down about 4% for the day, in a 52-week range of $11.37 to $25.89.

Bloom Energy Corp.’s (NYSE: BE) short interest rose by 6.7% in the final two weeks of April. Some 7.21 million shares were short, representing 14% of the company’s total float. Days to cover slipped from seven to six, and the stock price soared by about 14.3% during the period. Shares closed Thursday at $13.70, up about 2.7% for the day, in a 52-week range of $8.88 to $38.00.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a decrease of 0.8% in short interest during the period. Some 19.49 million shares were short as of April 30, about 15.2% of the total float. The stock closed at $1.64 on Thursday, down about 33.3% for the day, in a 52-week range of $1.60 to $23.66. The company had a one-for-12 reverse split on Wednesday.

Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by 2.5% to 46.29 million shares. Days to cover rose from eight to 14, and about 19.2% of the company’s shares were short. In the two weeks to April 30, the share price rose by about 2.2%. The stock’s 52-week range is $0.99 to $2.86, and shares closed Thursday at $2.31, down by about 4.6% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) had a drop of 15.8% in short interest to 2.28 million shares. About 1.7% of the company’s float was short, and days to cover slipped from three to two. The share price fell by about 2.6% in the short interest period. The stock closed at $3.07 on Thursday, down by about 1% for the day, in a 52-week range of $1.61 to $4.05.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest jump by 54.5% in the two-week period to 969,201 shares, about 2.2% of the company’s float. Days to cover rose from two to four. The stock price rose by about 1.9% in the latter half of April. Shares closed at $1.25 on Thursday, unchanged for the day, in a 52-week range of $0.76 to $3.78.