Investing

Short Sellers Pile Into Alternative Energy Stocks, Remain Mixed About Solar

Paul Ausick

Published: July 11, 2019 9:05 am

Last Updated: January 30, 2020 6:45 pm

Short interest moves among solar and alternative energy stocks were decidedly higher during the two-week reporting period that ended on June 28. Of the companies we watch, short interest decreased on one of three solar stocks and on all five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest remain essentially flat at 11.05 million shares, which represents about 14.8% of the company’s float. Days to cover remained unchanged at nine. In the two-week short interest period, the stock’s share price rose by about 6.7%. Its 52-week range is $36.51 to $67.99, and it closed at $66.26 on Wednesday, down by about 1.3% for the day. The 52-week high was posted Wednesday.

SunPower Corp. (NASDAQ: SPWR) short interest rose about 2% to 18.76 million shares, or 30.6% of the company’s float. In the two weeks to June 28, the share price soared by 29.9%. The stock’s 52-week range is $4.55 to $12.79, and it closed at $12.13 on Wednesday, down by about 2.7% for the day. Days to cover remained at nine.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a drop of 9% in short interest during the period. Some 5.8% of the total float, or 2.6 million shares, were short, and days to cover fell from four to three. The company’s shares traded up by about 2.2% over the two weeks, and shares closed Wednesday at $21.21, down about 2% for the day, in a 52-week range of $12.30 to $25.89.

Bloom Energy Corp. (NYSE: BE) short interest increased by 1% in the latter two weeks of June. Some 10.3 million shares were short, representing 18.5% of the company’s total float. Days to cover remained unchanged at eight, and the stock price rose by about 9% during the period. Shares closed Wednesday at $13.05, up about 0.7% for the day, in a 52-week range of $8.88 to $38.00.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 32% in short interest during the two-week period. Some 4.63 million shares were short as of June 28, about 17% of the total float. The stock closed at $0.80 on Wednesday, up nearly 30% for the day, in a 52-week range of $0.13 to $17.52. The company completed a one-for-12 reverse split in late April. Days to cover dropped from two to one. In the two-week period to June 28, the stock price dropped by nearly 52%.

Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by 2% to 50.36 million shares. Days to cover rose from 11 to 12, and about 22% of the company’s shares were short. In the latter half of June, the share price fell by nearly 12%. The stock’s 52-week range is $0.99 to $2.87, and shares closed Wednesday at $2.30, flat for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a rise of 16% in short interest to 3.07 million shares. About 2.3% of the company’s float was short, and days to cover rose from three to four. The share price remained unchanged across the short interest period. The stock closed at $2.70 on Wednesday, up by about 3.5% for the day, in a 52-week range of $1.61 to $3.47.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 11% in the two-week period to 1.42 million shares, about 3.4% of the company’s float. Days to cover remained at four. The stock price dropped by about 8.5% in the two weeks. Shares closed at $0.71 on Wednesday, down about 5.9% for the day, in a 52-week range of $0.68 to $3.24.