Energy

Short Sellers Jump on 2 Solar Stocks, Mostly Bypass Alt Energy

Paul Ausick

Published: September 11, 2020 7:32 am

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

First Solar Inc. (NASDAQ: FSLR) saw short interest slip by 3% to 10.1 million shares, which represent about 13.3% of the company’s float. Days to cover dipped from eight to seven. In the two-week short interest period, the stock’s share price increased by about 3%. Its 52-week range is $28.47 to $81.87, and it closed at $69.89 on Thursday, down by about 2.5% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest jumped by 15% to 29.9 million shares, or 37% of the company’s float. Days to cover fell from seven to six. In the two weeks to August 31, the share price jumped by 50.6%. The 52-week range is $2.64 to $12.46, and shares closed at $10.66 on Thursday, down about 9.1% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest increase by 21.3% during the two-week period. Some 5.6% of the total float, or 2.6 million shares, were short, and days to cover remained at two. The company’s shares jumped by 25.5% in the latter half of August, and shares closed Thursday at $27.67, down by about 10.6% for the day, in a 52-week range of $12.00 to $34.87.

FuelCell Energy Inc.’s (NASDAQ: FCEL) short interest increased by 2% during the period. Some 37.3 million shares were short as of August 31, about 18.3% of the total float, and the share price rose by 4%. Days to cover remained at three. The stock closed at $2.17 on Thursday, down 17.5% for the day, in a 52-week range of $0.23 to $3.50.

Plug Power Inc.’s (NASDAQ: PLUG) short interest rose by 4% to 54.3 million shares. Days to cover remained at two, and about 13.6% of the company’s shares were short. In the final two weeks of August, the share price increased by 13.9%. The stock’s 52-week range is $2.32 to $14.35, and shares closed Thursday at $12.12, down by less than 0.1% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) short interest increased by 7% to 3 million shares. About 2.1% of the company’s float was short, and days to cover remained at one. The share price fell by 2.2% in the two-week period. The stock closed at $2.51 a share on Thursday, down by 2.7% for the day, in a 52-week range of $1.05 to $3.75.

Bloom Energy Corp.’s (NYSE: BE) short interest fell by 3% in the period. Some 21 million shares were short, representing about 22.1% of the company’s total float. Days to cover remained at five, and the stock price rose by 10.5% during the two weeks. Shares closed Thursday at $13.79, down by about 4.8% for the day, in a 52-week range of $2.44 to $19.67.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest for the two-week period dive by about 34.2% to 1.55 million shares. About 3% of the company’s float was short. Days to cover remained at one. Shares closed at $4.58 on Thursday, down by about 0.9% on the day, in a 52-week range of $0.22 to $5.33.