Short Sellers Adding to Positions in Solar, Remain Mixed in Alt Energy Stocks

Energy

Published: December 11, 2019 8:00 am

Last Updated: January 30, 2020 12:19 pm

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on November 29. Of the companies we watch, short interest increased in two of three solar stocks and decreased in three of five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest rise by 3% to 11.91 million shares, which represents about 15.75% of the company’s float. Days to cover remained at nine. In the two-week short interest period, the stock’s share price increased by about 3.6%. Its 52-week range is $38.45 to $69.24, and it closed at $52.47 on Tuesday, essentially flat for the day.

SunPower Corp.’s (NASDAQ: SPWR) short interest fell by 4% to 18.486 million shares, or 25% of the company’s float. In the two weeks to November 29, the share price plunged by nearly 14%. The stock’s 52-week range is $4.55 to $16.04, and it closed at $7.20 on Tuesday, down by about 0.4% for the day. Days to cover remained at five.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest rise by 1% during the period. Some 7.9% of the total float, or 3.63 million shares, were short, and days to cover remained unchanged at four. The company’s shares traded up by about 1.2% over the two weeks, and shares closed Tuesday at $19.34, up by about 1.4% for the day, in a 52-week range of $13.46 to $25.89.

Bloom Energy Corp. (NYSE: BE) short interest decreased by 23% in the latter two weeks of November. Some 16.01 million shares were short, representing about 23% of the company’s total float. Days to cover slipped from seven to six, and the stock price fell by about 7.7% during the period. Shares closed Tuesday at $5.19, down about 2.6% for the day, in a 52-week range of $2.44 to $16.63.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 16% in short interest during the period. Some 20.7 million shares were short as of November 29, about 16% of the total float. The stock closed at $0.53 on Tuesday, up about 3% for the day, in a 52-week range of $0.13 to $11.28. Days to cover remained at one. In the latter half of November, the stock price dropped by 14%.

Plug Power Inc. (NASDAQ: PLUG) saw short interest dip by 1% to 50.6 million shares. Days to cover fell from eight to six, and about 22% of the company’s shares were short. In the two weeks, the share price rose by about 5.7%. Its 52-week range is $0.99 to $4.04, and shares closed Tuesday at $3.07, up by about 2.3% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 7% in short interest to 1.41 million shares. About 0.9% of the company’s float was short, and days to cover remained at two. The share price fell by about 4.8% in the two-week period. The stock closed at $1.94 on Tuesday, up about 2.1% for the day, in a 52-week range of $1.61 to $3.47.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 9% in the period to 618,600 shares, about 1.4% of the company’s float. Days to cover rose from one to two. The stock price dropped by 5% in the two weeks. Shares closed at $0.47 on Tuesday, down about 3.2% on the day, in a 52-week range of $0.39 to $1.67.