Short Sellers Picking Their Spots in Solar, Alt Energy Sectors

Energy

Published: April 27, 2016 8:05 am

Last Updated: January 13, 2020 10:15 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on April 15. In the solar sector, two of the five companies we watch saw short interest drop, and one filed for bankruptcy. Two of four alt energy stocks also saw a decrease in short interest during the period.

When SunEdison finally filed for bankruptcy on April 21, shares began trading over-the-counter on the Pink market under the ticker symbol SUNEQ. Up through April 15, short interest in the stock totaled 109.12 million shares. We will no longer include SunEdison in our short interest coverage.

First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 10% to 4.85 million shares, which represents 6.5% of the company’s float. Days to cover fell from three to two. In the two-week short interest period, the stock’s share price tumbled by about 13.6%. The stock’s 52-week range is $40.25 to $74.29, and it closed at $61.24 on Tuesday, up about 1.4% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest rose by 4.8% to 13.25 million shares, or 23.1% of the company’s float. In the short interest period to April 15, the share price fell by about 6.8%. The stock’s 52-week range is $18.25 to $33.70, and it closed at $21.93 on Tuesday, up about 2.3% for the day. Days to cover remained unchanged at seven.