Energy

Short Sellers Heading for the Sidelines on Solar, Alt Energy Stocks?

Alternative Energy sources
Source: thinkstock
Short interest moves among solar and alternative energy stocks were mixed again during the two-week reporting period that ended on September 15. In the solar sector, two of the five companies we watch saw short interest rise, and two of four alt energy stocks also saw a rise in short interest during the period.

A couple of the stocks saw major increases in the days to cover, and by far the majority experienced an increase in that number. That could indicate that investors, including short sellers, are staying on the sidelines while energy prices remain so volatile.

First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 3% to 6.08 million shares, which represents 8.2% of the company’s float. Days to cover rose from three to four. In the two-week short interest period, shares dropped about 2.5%. The stock’s 52-week range is $39.18 to $68.07, and it closed at $43.64 on Thursday, up about 0.6% for the day.

SunEdison Inc. (NYSE: SUNE) showed an increase of 3.9% in short interest, to 93.88 million shares. About 30.1% of the company’s float is now short and days to cover rose from two to three. In the latest two-week short interest reporting period, the share price added more than 9%, after dropping more than 30% in the prior two weeks. The stock closed at $9.07 Thursday night, down about 2.6% for the day, in a 52-week range of $8.10 to $33.45.

SunPower Corp. (NASDAQ: SPWR) short interest fell by 8.5% to 6.35 million shares, or 11.1% of the company’s float. In the two-week short interest period to September 15, the share price declined by about 3.6%. The stock’s 52-week range is $18.25 to $36.17, and it closed at $21.33 on Thursday, down about 1.3% for the day. Days to cover rose from four to six.

ALSO READ: The 6 Most Shorted Nasdaq Stocks

SolarCity Corp. (NASDAQ: SCTY) saw a short interest decline 4.4% to 27.24 million shares, 45.4% of the company’s total float. Days to cover rose from six to 16. In the short interest period, the share price rose by about 2%. The stock’s 52-week range is $34.65 to $63.79, and shares closed at $42.99 Thursday night, down about 1.8% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a drop of 6.4% in short interest in the two weeks to September 15. Some 12.9% of the total float, 5.49 million shares, were short, and days to cover rose from one to four. The company’s shares rose about 1.6% over the period. Shares closed Thursday at $17.18, up about 0.1% for the day, in a 52-week range of $14.16 to $40.08.

FuelCell Energy Inc. (NASDAQ: FCEL) had a drop of 1% in short interest during the two-week period. About 16.7% of the company’s float, 42.73 million shares, was short and days to cover fell from 31 to 23. In the short interest period, the shares added about 14.3%. The stock closed at $0.73 on Thursday, down about 4.8% for the day, in a 52-week range of $0.64 to $2.30.

Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by 0.4% to 34.11 million shares. Days to cover rose from eight to 19, and about 19.8% of the company’s shares were short. In the two weeks to September 15, the stock’s share price fell by about 4%. The stock’s 52-week range is $1.56 to $5.48, and shares closed Thursday at $2.07, up about 1% for the day.

ALSO READ: The 6 Most Shorted NYSE Stocks

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a decline of 3% in short interest to 18.06 million shares. About 25.4% of the company’s float was short and days to cover rose from 11 to 14. Shares dropped by about 16% in the first two weeks of September. The stock closed at $5.03, up about 0.8%, on Thursday, in a 52-week range of $3.73 to $10.48.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 2.6% in the two-week period to 3.12 million shares, about 7.7% of the company’s float. Days to cover remained unchanged at three. The stock price fell by about 3.6% in the period. The stock closed at $6.84 on Thursday, down about 1% on the day, in a 52-week range of $6.11 to $15.83.

Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)

Take the quiz below to get matched with a financial advisor today.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future

Take the retirement quiz right here.

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