Short Sellers Seek Direction in Solar, Alt Energy Stocks

Energy

Published: January 13, 2020 7:50 am

Last Updated: January 30, 2020 11:20 am

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

We previewed alt energy stocks in our list of 10 undervalued energy stocks for 2020.

First Solar Inc. (NASDAQ: FSLR) saw short interest remain virtually unchanged at 11.61 million shares, which represents about 15.4% 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 increased by about 2.8%. The 52-week trading range is $45.77 to $69.24, and shares closed at $56.50 on Friday, down about 0.4% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest rose by 6% to 18.57 million shares, or 21.1% of the company’s float. In the two weeks to December 31, the share price rose by 3.5%. Days to cover remained at five. The stock’s 52-week range is $5.06 to $16.04, and it closed at $7.74 on Friday, down by 1.9% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest drop by 15% during the latter half of December. Some 7.35% of the total float, or 3.37 million shares, were short, and days to cover remained unchanged at four. The company’s shares jumped by more than 8% over the two-week period, and shares closed Friday at $22.55, down by about 1.5% for the day, in a 52-week range of $14.50 to $25.89.

Bloom Energy Corp. (NYSE: BE) short interest increased by 2% in the two weeks. Some 15.5 million shares were short, representing about 22.2% of the company’s total float. Days to cover remained unchanged at five, and the stock price fell by about 4.3% during the period. Shares closed Friday at $9.13, up about 5.4% for the day, in a 52-week range of $2.44 to $16.63.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a rise of 21% in short interest during the period. Some 20.03 million shares were short as of December 31, about 15.9% of the total float. The stock closed at $2.22 on Friday, up about 1.4% for the day, in a 52-week range of $0.13 to $11.28. Days to cover remained at one.

Plug Power Inc. (NASDAQ: PLUG) saw short interest fall by 2% to 45.57 million shares. Days to cover fell from six to four, and about 19.8% of the company’s shares were short. In the two weeks to December 31, the share price slipped by about 0.5%. The stock’s 52-week range is $1.31 to $4.20, and shares closed Friday at $4.14, up by about 2.2% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw no change in short interest, with 1.55 million shares in the hands of short sellers. About 1% of the company’s float was short, and days to cover remained at two. The share price rose by about 11.6% in the two weeks to December 31. The stock closed at $2.67 on Friday, down about 0.7% for the day, in a 52-week range of $1.71 to $3.47.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest tumble by 21% in the two-week period to 467,000 shares, about 1% of the company’s float. Days to cover fell from two to one. The stock price soared by almost 66% in the final two weeks of last month. Shares closed at $0.66 on Friday, down about 5.3% on the day, in a 52-week range of $0.39 to $1.67.