Energy

Short Interest Mostly Flat on Solar Stocks, Falling on Alt Energy Shares  

Paul Ausick

Published: May 12, 2020 9:54 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on April 30. Of the companies we watch, short interest decreased on one solar stock and on three of five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest remain essentially flat again at 11.1 million shares, which represent about 14.7% of the company’s float. Days to cover remained at six. In the two-week short interest period, the stock’s share price rose by 7.5%. Its 52-week range is $28.47 to $69.24, and it traded at $43.10 on Tuesday.

SunPower Corp. (NASDAQ: SPWR) short interest fell by 2.0% to 22.1 million shares, or 27.9% of the company’s float. Days to cover remained at five. In the two weeks to April 30, the share price rose by 13.4%. The stock’s 52-week range is $4.03 to $16.04, and it traded at $7.51 on Tuesday.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest remain unchanged during the two-week period. Some 6.37% of the total float, or 2.92 million shares, were short, and days to cover remained unchanged at six. The company’s shares rose by 3.8% over the period. They traded at $18.35 on Tuesday, in a 52-week range of $12.00 to $25.35.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a rise of 10% in short interest during the latter half of April. Some 28.3 million shares were short as of the end of the month, about 14.2% of the total float. Days to cover remained at two. The stock traded at $2.05 on Tuesday, in a 52-week range of $0.13 to $3.00.

Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by 1.0% to 70.1 million shares. Days to cover rose from four to five, and about 23.0% of the company’s shares were short. In the two weeks to April 30, the share price rose by less than 1.0%. The stock’s 52-week range is $1.86 to $6.05, and shares traded Tuesday at $4.33.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 21.0% in short interest to 1.3 million shares. About 0.9% of the company’s float was short, and days to cover remained at one. The share price rose by 25.3% in the period. The stock traded at $2.16 on Monday, in a 52-week range of $1.05 to $3.30.

Bloom Energy Corp. (NYSE: BE) short interest fall by 7.0% in the final two weeks of April. Some 20.5 million shares were short, representing about 24.0% of the company’s total float. Days to cover remained at six, and the stock price jumped by 17.1% during the period. Shares traded on Monday at $8.59, in a 52-week range of $2.44 to $14.51.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest for the two-week period fall by 9.6% to 255,821 shares. Less than 1% of the company’s float was short. Days to cover remained at one. Shares traded at $0.40 on Monday, in a 52-week range of $0.22 to $1.20.