Energy

Short Sellers Mixed on Solar, Alternative Energy Stocks

Paul Ausick

Published: August 12, 2019 8:35 am

Last Updated: January 30, 2020 5:31 pm

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

First Solar Inc. (NASDAQ: FSLR) saw short interest rise by 2% to 10.75 million shares, which represents about 14.4% of the company’s float. Days to cover rose from nine to 10. In the two-week short interest period, the stock’s share price rose by about 0.8%. The stock’s 52-week trading range is $36.51 to $69.24, and it closed at $63.50 on Friday, down by nearly 2% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest rose by about 1% to 17.51 million shares, or 28.6% of the company’s float. In the two weeks to July 31, the share price tumbled by about 8.8%. The stock’s 52-week range is $4.55 to $16.04, and it closed at $14.31 on Friday, down by about 1.6% for the day. Days to cover fell from eight to six.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a drop of 4% in short interest during the two weeks. Some 7.5% of the total float, or 3.37 million shares, were short, and days to cover remained unchanged at five. The company’s shares traded down by about 0.1% over the period, and shares closed Friday at $21.86, down 1.8% for the day, in a 52-week range of $12.30 to $25.89.

Bloom Energy Corp. (NYSE: BE) short interest rose by 14% in the latter half of July. Some 15.35 million shares were short, representing 27.5% of the company’s total float. Days to cover rose from 10 to 12, and the stock price dropped by about 13.7% during the two weeks. Shares closed Friday at $8.56, down by about 4% for the day, in a 52-week range of $8.43 to $38.00. The low was posted Friday.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 5% in short interest during the period. Some 6.51 million shares were short as of July 31, about 23.8% of the total float. The stock closed at $0.35 on Friday, up about 15% for the day, in a 52-week range of $0.13 to $14.64. The company completed a one-for-12 reverse split in late April. Days to cover fell to below one. In the final two weeks of last month, the stock price dropped by about 13.5%.

Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 9% to 46.3 million shares. Days to cover fell from 14 to 13, and about 21.7% of the company’s shares were short. By July 31, the share price had dipped by about 2.3%. The stock’s 52-week range is $0.99 to $2.87, and shares closed Friday at $2.09, down about 0.5% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 4% in short interest to 2.56 million shares. About 1.9% of the company’s float was short, and days to cover remained unchanged at three. The share price fell by about 3.8% in the two weeks. The stock closed at $2.31 on Friday, down by nearly 12% for the day, in a 52-week range of $1.61 to $3.47.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw the number of its shares short decline by 11% in the period to 1.03 million shares, or about 2.5% of the company’s float. Days to cover fell from four to three. The stock price dropped by more than 20% in the two weeks to July 31. Shares closed at $0.56 on Friday, down about 5.1% for the day, in a 52-week range of $0.51 to $3.24.

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