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Short Sellers Seek Direction in Solar, Alt Energy Stocks

Alternative Energy sources
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Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on June 30. In the solar sector, three of the five companies we watch saw short interest rise, while among the alternative fuel stocks two stocks saw an increase and two others experienced a decrease in short interest.

For the two-week period, share prices for nearly all the stocks were down from around 3% to 12%. All the alternative fuel stocks posted a two-week share price decline and just one of the solar stocks rose (a modest 0.8%) during the period.

First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 7.7% to 6.22 million shares, which represents 8.4% of the company’s float. Days to cover remained unchanged at three. In the two-week short interest period through June 30, shares dropped more than 7%. The stock’s 52-week range is $39.18 to $73.78, and it closed at $44.03 on Friday, up about 0.9% for the day.

SunEdison Inc. (NYSE: SUNE) showed an increase of 0.5% in short interest, to 69.84 million shares. About 25.7% of the company’s float is now short, and days to cover fell from nine to seven. In the latest two-week short interest reporting period, the share price rose 0.8%. The stock closed at $30.41 Friday night, up 4.1% for the day, in a 52-week range of $13.09 to $32.66.

SunPower Corp. (NASDAQ: SPWR) short interest fell by 11.3% to 6.61 million shares, or 12.3% of the company’s float. In the two-week short interest period, shares declined more than 11%. The stock’s 52-week range is $22.75 to $39.95, and it closed at $26.29 on Friday, up about 1.2% for the day. Days to cover remained unchanged at six.

ALSO READ: The 6 Most Shorted Nasdaq Stocks in June

SolarCity Corp. (NASDAQ: SCTY) saw a short interest rise of 2.9% to 22.75 million shares, which is 38.8% of the company’s total float. Days to cover rose from 11 to 12. In the two-week short interest period, the share price fell by almost 3%. The stock’s 52-week range is $45.91 to $79.40, and shares closed at $53.00 Friday night, up nearly 2% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a drop of 23.2% in short interest in the two-week period to June 30. Some 6.3% of the total float, 3.5 million shares, were short, and days to cover slipped from two to one. The company’s shares fell nearly 13% during the period. Shares closed Friday night at $25.83, up about 0.7% for the day, in a 52-week range of $18.68 to $41.12.

FuelCell Energy Inc. (NASDAQ: FCEL) had a rise of 2.2% in short interest during the period. About 15% of the company’s float, 38.2 million shares, is short and days to cover fell from 14 to nine. In the short interest period, the shares dropped more than 12%. The stock closed at $0.88 on Friday, down about 1.8% for the day, in a 52-week range of $0.86 to $2.84.

Plug Power Inc. (NASDAQ: PLUG) saw short interest slide by 2% to 31.06 million shares. Days to cover remained unchanged at 15, and about 18.1% of the company’s shares were short. In the two weeks to June 30, the stock’s share price dropped by more than 11%. The stock’s 52-week range is $2.17 to $6.47, and shares closed Friday at $2.28, down about 2.2% for the day.

ALSO READ: The 6 Most Shorted NYSE Stocks in June

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 7.5% in short interest to 16.28 million shares. About 23.1% of the company’s float was short, and days to cover fell from 15 to 10. Shares dropped more than 11% in the two-week period to June 30. The stock closed at $6.83, down 1.9%, on Friday in a 52-week range of $3.99 to $10.94.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 0.4% in the two-week period to 4.89 million shares, about 21.7% of the company’s float. Days to cover fell from seven to five. The stock price fell 5.7% in the two weeks to June 30. The stock closed at $9.35 on Friday, down 3.8% on the day, in a 52-week range of $7.51 to $23.97.

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