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Short Interest in Solar, Alt Energy Stocks Still Searching for Direction

Source: Thinkstock
Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on October 31. Of the companies we watch, short interest fell on two of three solar stocks and on two of four alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest fall by 3.3% to 5.56 million shares, which represents about 7.2% of the company’s float. Days to cover fell from four to one. In the two-week short interest period, the stock’s share price rose by about 16.4%. Its 52-week trading range is $25.56 to $62.57, and it closed at $60.54 on Thursday, down about 2% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest decreased by 5% to 12.81 million shares, or 21.7% of the company’s float. In the interest period, the share price rose by about 2.5%. The 52-week range is $5.84 to $11.70, and shares closed at $8.56 on Thursday, down about 1.8% for the day. Days to cover dipped from eight to five.

Canadian Solar Inc. (NASDAQ: CSIQ) saw an increase of 4.3% in short interest during the two weeks to October 31. Some 11.5% of the total float, or 5.1 million shares, were short and days to cover fell from seven to five. The company’s share price rose by about 9.7% over the period. Shares closed Thursday at $16.84, down nearly 11% for the day, in a 52-week range of $10.36 to $19.09. The company reported third-quarter earnings Thursday, and investors were looking for more than the firm delivered.

FuelCell Energy Inc. (NASDAQ: FCEL) posted an increase of 13.3% in short interest during the period. Some 8.01 million shares were short as of October 31. The stock closed at $1.99 on Thursday, down more than 11% for the day, in a 52-week range of $0.80 to $3.25. Shares traded up nearly 1% in the two-week period, and days to cover rose from two to six.

Plug Power Inc. (NASDAQ: PLUG) saw short interest rise by 0.9% to 33.82 million shares. Days to cover rose from four to eight and about 15% of the company’s shares were short. In the latter weeks of October, the share price slipped by about 0.7%. The stock’s 52-week range is $0.83 to $3.21, and shares closed Thursday at $2.51, down more than 13% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a small decline of about 0.2% in short interest to 8.47 million shares. About 6.6% of the company’s float was short, and days to cover remained unchanged at 12. The share price fell by about 2.7% in the two-week period. The stock closed at $2.10 on Thursday, unchanged on the day, in a 52-week range of $1.98 to $3.83.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest fall by 13.2% in the period to 1.2 million shares, about 2.8% of the company’s float. Days to cover remained at four. The stock price dropped about 7.7% in the two weeks. Shares closed at $4.70 on Thursday, down about 1% on the day, in a 52-week range of $4.15 to $10.95.