Energy

Short Interest Picks Up Again in Alternative Energy, Solar Stocks

Alternative Energy sources
Source: thinkstock
Short interest among solar and alternative energy stocks mostly increased during the two-week reporting period that ended on June 15. In the solar sector, four of the five companies we watch saw short interest rise, while among the alternative fuel stocks, three of four also had a rise in short interest.

Once again, days to cover rose on all nine stocks, and among the solar stocks, only one posted a share price decline during the two-week period. Among the alternative fuel stocks, three of four posted share price losses for early June.

First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 3.5% to 5.78 million shares, which represents 7.8% of the company’s float. Days to cover rose to three. In the two-week short interest period, shares gained more than 7.5%. The stock’s 52-week trading range is $39.18 to $73.78, and it closed at $51.36 on Wednesday, down about 0.3% for the day.

SunEdison Inc. (NYSE: SUNE) showed an increase of 5.8% in short interest to 69.47 million shares. About 25.6% of the company’s float is now short, and days to cover rose from seven to nine. In the latest two-week short interest reporting period, the share price rose 1%. The stock closed at $31.68 Wednesday night, down 1.4% for the day, in a 52-week range of $13.09 to $32.66.

ALSO READ: The 6 Most Heavily Shorted Nasdaq Stocks in June

SunPower Corp. (NASDAQ: SPWR) short interest rose by 9.1% to 7.45 million shares, or 13.8% of the company’s float. In the two-week period to June 15, shares added nearly 8%. The stock’s 52-week range is $22.75 to $42.07, and it closed at $31.50 on Wednesday, down about 2.1% for the day. Days to cover rose to six.

SolarCity Corp. (NASDAQ: SCTY) saw a short interest rise by 5.8% to 22.12 million shares, 37.7% of the company’s total float. Days to cover rose from nine to 11. In the short interest period, the share price fell by about 8.2%. The stock’s 52-week range is $45.91 to $79.40, and shares closed at $57.01 Wednesday, down nearly 2% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a drop of 2.6% in short interest in the first two weeks of June. Some 8.3% of the total float, 3.5 million shares, are short, and days to cover rose from one to two. The company’s shares rose about 1.6% over the two-week period. They closed Wednesday at $32.36, down about 1.5% for the day, in a 52-week range of $18.68 to $41.12.

FuelCell Energy Inc. (NASDAQ: FCEL) had a gain of 3.5% in short interest during the two-week period. About 14.6% of the company’s float, 37.38 million shares, is short, and days to cover rose from 13 to 14. In the two-week short interest period, the shares dropped more than 12%. The stock closed at $0.95 on Wednesday, down about 1.3% for the day, in a 52-week range of $0.86 to $2.84.

Plug Power Inc. (NASDAQ: PLUG) saw short interest rise by 1.8% to 31.68 million shares. Days to cover rose from 12 to 15, and about 18.4% of the company’s shares are short. In the two weeks to June 15, the stock’s share price slipped by 1.1%. The stock’s 52-week range is $2.32 to $6.47, and shares closed Wednesday at $2.58, down 1.9% for the day.

ALSO READ: Has Short Interest in 3D Printing Stocks Found a Bottom?

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a rise of 4.7% in short interest to 17.59 million shares. About 25% of the company’s float is short, and days to cover rose from 10 to 15. Shares added about 1% in the two-week period to June 15. The stock closed at $6.83 on Wednesday, in a 52-week range of $3.99 to $11.79. The share price slipped by nearly 2.2% on the day.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 1.2% in the two-week period to 4.87 million shares, or about 21.6% of the company’s float. Days to cover rose from five to seven. The stock price fell 5.8% in the two weeks to June 15. The stock closed at $10.07 on Wednesday, down more than 3% on the day, in a 52-week range of $7.51 to $23.97.

Sponsored: Find a Qualified Financial Advisor

Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.