Energy

Are Short Sellers Picking Solar Energy Survivors?

Paul Ausick

Published: March 25, 2016 9:25 am

Last Updated: January 13, 2020 11:32 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on March 15. In the solar sector, three of the five companies we watch saw short interest rise. Three of four alt energy stocks saw a decrease in short interest during the period.

The failed acquisition of Vivint Solar by SunEdison has rippled through solar industry, with other solar PV makers and installers getting something of a boost from the two erstwhile merger candidates.

First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 8.4% to 6.21 million shares, which represents 8.3% of the company’s float. Days to cover remained unchanged at three. In the two-week short interest period, the stock’s share price rose by about 0.8%. Its 52-week range is $40.25 to $74.29, and it closed at $68.46 on Thursday, up about 0.3% for the day. The 52-week high was posted March 18.

SunEdison Inc. (NYSE: SUNE) showed an increase of 12.1% in short interest to 119.56 million shares. About 38% of the company’s float was short, and days to cover remained at two. In the latest short interest reporting period, the share price fell by about 8%. The stock closed at $1.21 on Thursday, down 4.7% for the day, in a 52-week range of $1.15 to $33.45. The 52-week low was posted Thursday following news stories wondering whether the troubled company can file its annual report by March 30. If it does not, SunEdison violates a loan agreement and it must enter negotiations with lenders who are unlikely to be very sympathetic.

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