Short Sellers Mixed on Alternative Energy, Solar Stocks

Energy

Published: July 25, 2019 9:40 am

Last Updated: January 30, 2020 6:07 pm

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

First Solar Inc. (NASDAQ: FSLR) saw short interest drop by 5% to 10.55 million shares, which represents about 14.1% of the company’s float. Days to cover remained unchanged at nine. In the two-week short interest period, the stock’s share price rose by about 0.3%. Its 52-week range is $36.51 to $67.99, and it closed at $66.04 on Wednesday, down by about 0.5% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest fell by about 7% to 17.37 million shares, or 28.3% of the company’s float. In the two weeks to July 15, the share price rose by about 1.4%. The stock’s 52-week range is $4.55 to $12.79, and it closed at $10.29 on Wednesday, down by about 2.8% for the day. Days to cover fell from nine to eight.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a jump of 35% in short interest during the two-week period. Some 7.8% of the total float, or 3.5 million shares, were short, and days to cover rose from four to five. The company’s shares traded down by about 4% over the two weeks, and they closed Wednesday at $20.61, up less than 0.1% for the day, in a 52-week range of $12.30 to $25.89.

Bloom Energy Corp. (NYSE: BE) short interest soared by 31% in the first two weeks of July. Some 13.5 million shares were short, representing 24.3% of the company’s total float. Days to cover rose from eight to 10, and the stock price rose by about 4.7% during the period. Shares closed Wednesday at $10.91, up about 3.9% for the day, in a 52-week range of $8.88 to $38.00.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 33% in short interest during the period. Some 6.18 million shares were short as of July 15, about 22.6% of the total float. The stock closed at $0.33 on Wednesday, down about 9.4% for the day, in a 52-week range of $0.13 to $16.56. The company completed a one-for-12 reverse split in late April. Days to cover remained unchanged at one. In the first half of July, the stock price dropped by about 133%.

Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by 1% to 50.71 million shares. Days to cover rose from 12 to 14, and about 22.3% of the company’s shares were short. In the period, the share price rose by about 2.9%. The stock’s 52-week range is $0.99 to $2.87, and shares closed Wednesday at $2.29, up about 1.8% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 14% in short interest to 2.65 million shares. About 2% of the company’s float was short, and days to cover dipped from four to three. The share price rose by about 1.3% in the two-week period. The stock closed at $2.72 on Wednesday, up by about 1.9% for the day, in a 52-week range of $1.61 to $3.47.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest decline by 19% in the two-week period to 1.15 million shares, about 2.8% of the company’s float. Days to cover remained at four. The stock price dropped by about 9.2% in the two weeks to July 15. Shares closed at $0.62 on Wednesday, down about 1.7% for the day, in a 52-week range of $0.59 to $3.24.

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