Investing

Short Sellers Cooling on Solar Stocks and Fleeing Alternative Energy Stocks

Paul Ausick

Published: September 12, 2019 9:55 am

Last Updated: January 30, 2020 3:51 pm

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on August 30. Of the companies we watch, short interest increased on one of three solar stocks and decreased on four of five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest remain unchanged at 10.15 million shares, which represents about 13.5% of the company’s float. Days to cover rose from six to 10. In the two-week short interest period, the stock’s share price rose by about 5.1%. Its 52-week range is $36.51 to $69.24, and it traded at $62.69 early Thursday.

SunPower Corp. (NASDAQ: SPWR) short interest rose by about 2% to 19.2 million shares, or 30.6% of the company’s float. In the two weeks to August 30, the share price rose by about 6.1%. The stock’s 52-week range is $4.55 to $16.04, and it traded at $12.82 on Thursday morning. Days to cover rose from three to six.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest remain flat during the two-week period. Some 7.2% of the total float, or 3.26 million shares, were short, and days to cover rose from three to five. The company’s shares traded up by about 1% over the two-week period, and they traded on Thursday at $20.81, in a 52-week range of $12.69 to $25.89.

Bloom Energy Corp. (NYSE: BE) short interest fell by 12% in the latter two weeks of August. Some 11.75 million shares were short, representing 18.7% of the company’s total float. Days to cover remained unchanged at six, and the stock price dropped by about 10.3% during the period. Shares traded Thursday at $4.84, in a 52-week range of $4.02 to $38.00.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 6% in short interest during the period. Some 6.53 million shares were short as of August 30, about 5.2% of the total float. The stock traded at $0.39 a share on Thursday, down less than 0.1% for the day, in a 52-week range of $0.13 to $13.68. The company completed a one-for-12 reverse split in late April. Days to cover remained below one. In the two weeks to August 30, the stock price rose by about 7.5%.

Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 5% to 42.3 million shares. Days to cover dipped from 14 to 13, and about 19.3% of the company’s shares were short. In the latter half of August, the share price jumped by about 11.3%. The stock’s 52-week range is $0.99 to $2.87, and shares traded Thursday at $2.47.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 11% in short interest to 2.45 million shares. About 1.7% of the company’s float was short, and days to cover remained unchanged at three. The share price rose by about 0.3% in the short interest period. The stock traded at $2.16 on Thursday, in a 52-week range of $1.61 to $3.47.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest decline by 10% in the period to 993,300 shares, about 2.2% of the company’s float. Days to cover fell from three to two. The stock price dropped by nearly 4% in the two weeks to August 30. Shares traded at $0.80 on Thursday, in a 52-week range of $0.50 to $3.24.