Energy

Short Sellers Add to Stake in Alt Energy Stocks, Drop Solar

Paul Ausick

Published: November 12, 2019 8:58 am

Last Updated: January 30, 2020 1:18 pm

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

First Solar Inc. (NASDAQ: FSLR) saw short interest rise by 7% to 11.47 million shares, which represents about 15.2% of the company’s float. Days to cover remained at eight. In the two-week short interest period, the stock’s share price slipped by about 3.1%. Its 52-week range is $38.45 to $69.24, and it closed at $52.48 on Monday, up about 1% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest dropped by 11% to 18.1 million shares, or 28.8% of the company’s float. In the two weeks to October 31, the share price slipped by about 0.1%. The stock’s 52-week range is $4.55 to $16.04, and it closed at $8.47 on Monday, up by about 1.2% for the day. Days to cover remained unchanged at six.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest fall by 4% during the two-week period. Some 6.9% of the total float, or 3.14 million shares, were short, and days to cover dipped from five to four. The company’s shares traded down by about 4.5% over the short interest period, and they closed Monday at $16.86, down by about 0.2% for the day, in a 52-week range of $13.24 to $25.89.

Bloom Energy Corp. (NYSE: BE) short interest rose by 30% in the latter half of October. Some 23.79 million shares were short, representing about 36% of the company’s total float. Days to cover rose from seven to eight, and the stock price dropped by about 9.5% during the period. Shares closed Monday at $5.50, up about 6.4% for the day, in a 52-week range of $2.44 to $19.87.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 16% in short interest during the two-week period. Some 16.37 million shares were short as of October 31, about 13% of the total float. The stock closed at $0.45 on Monday, up about 3.7 for the day, in a 52-week range of $0.13 to $11.28. Days to cover remained at one. In the two-week period, the stock price fell by about 10.3%. In Tuesday’s premarket trading, shares are up another 5.5% to around $0.48.

Plug Power Inc. (NASDAQ: PLUG) saw short interest remain roughly flat at 43.91 million shares. Days to cover fell from 12 to 10, and about 19.2% of the company’s shares were short. In the two weeks to October 31, the share price rose by about 4%. The stock’s 52-week range is $0.99 to $3.14, and shares closed Monday at $2.94, up by about 7.7% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 22% in short interest to 1.78 million shares. About 1.2% of the company’s float was short, and days to cover remained at three. The share price rose by about 4.7% in the two-week period. The stock closed at $2.23 on Monday, down about 0.5% for the day, in a 52-week range of $1.61 to $3.47.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest jump by 41% in the two-week period to 1.12 million shares, about 2.5% of the company’s float. Days to cover remained at two. The stock price dipped by about 0.4% in the final two weeks of last month. Shares closed at $0.54 on Monday, down 3.1% on the day, in a 52-week range of $0.50 to $1.70.