Energy

Short Sellers Ignore Solar, Make One Big Bet in Alt Energy  

Paul Ausick

Published: May 28, 2020 8:05 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on May 15.  Of the companies we watch, short interest increased on one solar stock and on two of five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest dip by 1% to 10.9 million shares, which represent about 14.4% of the company’s float. Days to cover rose from six to seven. In the two-week short interest period, the stock’s share price fell by about 10.3%. Its 52-week range is $28.47 to $69.24, and shares closed at $46.61 on Wednesday, up by about 0.1% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest fell by 8.0% to 20.5 million shares or 25.5% of the company’s float. Days to cover remained at five. In the two weeks to May 15, the share price fell by about 10.3%. The stock’s 52-week range is $4.03 to $16.04, and it closed at $7.29 on Wednesday, essentially flat for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest rise by less than 1% during the period. Some 7.2% 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 1.1% over the two weeks, and they closed Wednesday at $19.28, up by about 1.2% for the day. The 52-week range is $12.00 to $25.35.

FuelCell Energy Inc. (NASDAQ: FCEL) posted no change in short interest during the two-week period. Some 28.3 million shares were short as of May 15, about 14.2% of the total float. Days to cover rose from two to three. The stock closed at $2.17 on Wednesday, unchanged for the day, in a 52-week range of $0.13 to $3.00.

Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by 2.0% to 71.6 million shares. Days to cover remained at five, and about 23.5% of the company’s shares were short. In the first half of May, the share price rose by about 1.5%. The stock’s 52-week range is $1.86 to $6.05m and shares closed Wednesday at $4.33, up about 2.6% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 10.0% in short interest to 1.2 million shares. About 0.8% of the company’s float was short, and days to cover remained at one. The share price fell by about 3.9% in the two-week period. The stock closed at $2.13 on Wednesday, up about 4.9% for the day, in a 52-week range of $1.05 to $2.93.

Bloom Energy Corp.’s (NYSE: BE) short interest fell by 7.0% in the two weeks. Some 19.2 million shares were short, representing about 21.6% of the company’s total float. Days to cover remained at six, and the stock price increased by less than 1% during the two-week period. Shares closed Wednesday at $8.34, up by 2.3% for the day, in a 52-week range of $2.44 to $14.51.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest for the latest period soar by 56.9% to 401,556 shares. Less than 1% of the company’s float was short. Days to cover remained at one. Shares closed at $0.55 on Wednesday, down by about 5.1% on the day, in a 52-week range of $0.22 to $1.11.