Energy

Short Interest in Solar, Alt Energy Stocks Moving Higher

Paul Ausick

Published: February 25, 2016 8:35 am

Last Updated: January 13, 2020 12:44 pm

Short interest among solar and alternative energy stocks mostly increased during the two-week reporting period that ended on February 12. In the solar sector, four of the five companies we watch saw short interest rise. Three of four alt energy stocks also saw an increase in short interest during the period.

Perhaps the most interesting detail in this week’s report is that days to cover rose for three of the five solar stocks and for all four of the alt energy stocks at the same time that short interest rose on most of these stocks. Which poses the questions, “Who’s leaving and who’s staying?” The pros or the amateurs?

First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 15.2% to 6.41 million shares, which represents 8.7% of the company’s float. Days to cover rose from two to three. In the two-week short interest period, the stock’s share price fell by about 7.4%. The stock’s 52-week range is $40.25 to $72.12, and it closed at $69.45 on Wednesday, up about 12.4% for the day. The company reported good earnings results earlier this week and shared the good fortune with other solar PV makers of a favorable ruling from the World Trade Organization related to exports to India.

SunEdison Inc. (NYSE: SUNE) showed an increase of 5.4% in short interest, to 98.68 million shares. About 31.4% of the company’s float was short and days to cover rose from three to four. In the latest short interest reporting period, the share price fell by nearly 54%. The stock closed at $1.26 Wednesday, down about 5.3% for the day, in a 52-week range of $1.21 to $33.45. That low was posted Wednesday.

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