Investing

Short Sellers Boost Positions in Solar, Alt Energy Stocks

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Short interest moves among solar and alternative energy stocks mostly increased during the two-week reporting period that ended on November 30. In the solar sector, four of the five companies we watch saw short interest rise. Three of four alt energy stocks also saw in increase in short interest during the period.

First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 5.8% to 5.39 million shares, which represents 7.3% of the company’s float. Days to cover rose from three to four. In the two-week short interest period through November 30, shares rose about 4.8%. The stock’s 52-week range is $39.18 to $65.50, and it closed at $58.85 on Wednesday, down about 0.4% for the day. The company issued its outlook for 2016 on Wednesday, and investors bid the shares down about 11% in Thursday’s premarket session.

SunEdison Inc. (NYSE: SUNE) showed an increase of 29.5% in short interest, to 119.31 million shares. About 38% of the company’s float was short, and days to cover fell from three to one. In the latest two-week short interest reporting period, the share price fell by nearly 30%. The stock closed at $3.96 Wednesday, up about 2.8% for the day, in a 52-week range of $2.55 to $33.45. The company announced altered terms for its proposed acquisition of Vivint Solar on Wednesday, cutting the price it will pay for the rooftop solar installer.

SunPower Corp. (NASDAQ: SPWR) short interest rose by 8.9% to 7.02 million shares, or 12.3% of the company’s float. In the two-week short interest period, the share price fell by nearly 4%. The stock’s 52-week range is $18.25 to $35.11, and it closed at $23.04 on Wednesday, down more than 8% for the day. Days to cover rose from five to six.

SolarCity Corp. (NASDAQ: SCTY) saw a short interest rise by 9.1% to 32.14 million shares, its highest level of short interest in the past 12 months and 53.5% of the company’s total float. Days to cover rose from six to eight. In the two-week short interest period, the share price increased by nearly 15%. The stock’s 52-week range is $24.07 to $63.79, and shares closed at $35.84 Wednesday night, up about 3.5% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a rise of 3.2% in short interest in the two-week period to November 30. Some 15.7% of the total float, 6.68 million shares, were short, and days to cover rose from two to three. The company’s shares added about 5.3% over the two-week period. Shares closed Wednesday at $23.62, down about 2% for the day, in a 52-week range of $14.16 to $40.08.

FuelCell Energy Inc. (NASDAQ: FCEL) had a drop of 1.5% in short interest during the two-week period. The company effected a one-for-12 reverse split on December 3, making data comparisons essentially useless. Simple math puts current short interest at less than 3 million shares, based on more than 34 million shares short on November 30. The stock closed at $7.05 on Wednesday, up about 5.4% for the day, in a split-adjusted 52-week range of $6.12 to $21.12.

Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by 5.3% to 36.92 million shares. Days to cover rose from six to 16, and about 20.7% of the company’s shares were short. In the two weeks, the stock’s share price rose by more than 23%, offsetting a similar-sized decline in the prior reporting period. The stock’s 52-week range is $1.56 to $3.38, and shares closed Wednesday at $1.99, up about 2.6% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a rise of 3.9% in short interest to 16.85 million shares. About 23.8% of the company’s float was short, and days to cover rose from 12 to 17. Shares dropped about 4.8% in the two-week period to November 30. The stock closed at $3.90, up more than 3%, on Wednesday in a 52-week range of $3.65 to $10.48. The 52-week low was posted Wednesday.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 4.2% in the two-week period to 3.96 million shares, about 10.7% of the company’s float. Days to cover remained unchanged at three. The stock price rose about 2% in the two weeks to November 30. Shares closed at $4.31 on Tuesday, up about 2.4% on the day, in a 52-week range of $3.74 to $13.70.

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