24/7 Wall St. » ENER

24/7 Wall St. Closing Bell (ACI, NFLX, KMI, KMP, HNZ, AVP, GT, WPI, ARB, BWA, CPLA, FOSL, HSP, OMC, ZIP, KORS, SYNM, CHTP, ENER, JKS)

Paul Ausick — Tue, 14 Feb 2012 21:10:40 +0000

US stock markets opened lower this morning and gradually lost ground throughout the day. A fractionally lower opening bell has translated to around a -0.6% loss on each of the major indexes about half an hour before closing. Last night’s downgrade of the sovereign debt of six European countries set the tone in both Asia and Europe, but by mid-day, a fairly weak report on US retail sales and a more modest than expected rise in business inventories kept share prices from rising. In the late afternoon, Eurozone leaders canceled tomorrow’s meeting on the Greek bailout saying that Greece had failed to meet several demands related to the proposed $172 billion bailout. Germany’s finance minister even displayed a “who cares?” attitude toward the possibility of a Greek default (our story here). Crude oil was mixed today, with larger early gains lost on the weak news and the stronger dollar. WTI crude rose 0.08% to $100.99/barrel and Brent crude rose 0.25% to $117.68/barrel. Gold was down -0.4%, settling at $1,717.70/ounce.

The unofficial closing bells put the DJIA up about 4 points to 12,878.28 (0.03%), the NASDAQ rose less than 1 point (0.02%) to 2,931.83, and the S&P 500 fell -0.09% or just over 1 point to 1,350.5.

There were several analyst upgrades and downgrades today, including Arch Coal Inc. (NYSE: ACI) cut to ‘hold’ at Argus; Netflix Inc. (NASDAQ: NFLX) raised to ‘outperform’ and target price raised to $140 at Credit Suisse; Kinder Morgan Inc. (NYSE: KMI) raised to ‘buy’ at Deutsche Bank; Kinder Morgan Energy Partners L.P. (NYSE: KMP) raised to ‘buy’ at Deutsche Bank; and H.J. Heinz Co. (NYSE: HNZ) started as ‘underweight’ at Morgan Stanley.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Avon Products Inc. (NYSE: AVP) is up 1.2% at $17.74; Goodyear Tire & Rubber Co. (NYSE: GT) is down -5.7% at $13.18; Watson Pharmaceuticals Inc. (NYSE: WPI) is up 3.8% at $59.89; Arbitron Inc. (NYSE: ARB) is up 4.4% at $36.94; BorgWarner Inc. (NYSE: BWA) is up 0.42% at $79.18; Capella Education Co. (NASDAQ: CPLA) is down -13.3% at $39.30; Fossil Inc. (NASDAQ: FOSL) is up nearly 13% at $118.02; Hospira Inc. (NYSE: HSP) is up 6.7% at $36.50; Omnicom Group Inc. (NYSE: OMC) is down -0.23% at $47.91; and Zipcar Inc. (NASDAQ: ZIP) is down -13% at $13.99, a new 52-week low.

Other standouts from today include the following stocks:

Michael Kors Holdings Ltd. (NYSE: KORS) is up nearly 25% at $41.92 after posting a new high of $42.43 earlier today. The apparel company reported better-than-expected earnings today, and the shares have more than doubled since the company’s IPO in mid-December.

Syntroleum Corp. (NASDAQ: SYNM) is up up 20% at $1.32. The biodiesel maker’s joint venture with Tyson Foods Inc. (NYSE: TSN) has signed a deal to distribute synthetic diesel fuel.

Chelsea Therapeutics International Inc. (NASDAQ: CHTP) is up nearly 19% at $3.69. The company’s shares fell almost -40% yesterday, but bargain hunters can’t resist. We mentioned this possibility yesterday.

Energy Conversion Devices Inc. (NASDAQ: ENER) is down more than -80% to $0.29. The solar maker filed for bankruptcy this morning. We have more coverage here.

JinkoSolar Holding Co. Ltd. (NYSE: JKS) is down nearly -12% at $7.95. The solar panel maker is just one more victim among solar stocks today of a proposed cutback in Germany’s solar subsidies and the bankruptcy of ECD. More coverage here.

Stay tuned for Wednesday. Dallas Fed President Richard Fisher is giving a speech. We have noted the following events on the schedule (all times Eastern):

7:00 a.m. – Mortgage Bankers Association purchase applications
8:30 a.m. – Empire State manufacturing survey
9:15 a.m. – Industrial production
10:00 a.m. – Housing market index
10:30 a.m. – EIA weekly petroleum status report
2:00 p.m. – FOMC minutes released

Paul Ausick

Filed under: General Tagged: ACI, ARB, AVP, BWA, CHTP, CPLA, ENER, FOSL, GT, HNZ, HSP, JKS, KMI, KMP, KORS, NFLX, OMC, SYNM, WPI, ZIP

Mid-day Movers (SYNM, KORS, LPSN, ENER, YGE)

Paul Ausick — Tue, 14 Feb 2012 17:08:28 +0000

At about noon today, the three major equity indexes are all trading lower following a weak report on US retail sales and a smaller-than-expected rise in business inventories. The DJIA is down about 23 points at about 12,851, the Nasdaq is down about 11 points at around 2,921, and the S&P 500 is down about 5 points to 1,347. All have lost strength since this mornings opening. The dollar has gained strength against the euro, the British pound, and the Japanese yen, and the dollar index is up 0.31% at 79.381, up more than 0.2% from its pre-open level.

Among the major movers at around noon today are Syntroleum Corp. (NASDAQ: SYNM), Michael Kors Holdings Ltd. (NYSE: KORS), LivePerson Inc. (NASDAQ: LPSN), Energy Conversion Devices Inc. (NASDAQ: ENER), and Yingli Green Energy Holding Co. Ltd. (NYSE: YGE).

Syntroleum is up nearly 21% at $1.33. Volume is about more than 10x the daily average of around 425,000 shares traded. The biodiesel maker’s joint venture with Tyson Foods Inc. (NYSE: TSN) has signed a deal to distribute synthetic diesel fuel.

Kors is up more than 22% at $41.15 after posting a new 52-week high of $42.17 earlier this morning. Volume is about 2.5x the daily average of around 2.2 million shares traded. The apparel company posted better-than-expected earnings this morning and forecast current quarter earnings above estimates.

LivePerson is up more than 19% at $14.99 after posting a new 52-week high of $15.33 earlier. Volume is more than 6x the daily average of about 285,000 shares traded. The maker of customer contact software reported in-line earnings and revenues last night, and forecast more of the same for the current quarter.

Energy Conversion Devices is down more than -80% at $0.29. Volume is about 10x the daily average of 50,000 shares traded. The solar maker filed for bankruptcy this morning. We have more coverage here.

Yingli Green Energy is down nearly -10% at $4.77. Volume is already equal to the daily average of about 90,000 shares traded. The Chinese solar panel maker is among many other solar makers being affected by ECD’s bankruptcy and a likely cut in German subsidies. More coverage here.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: ENER, KORS, LPSN, SYNM, YGE

Solar Sector Pounded by German Cuts, Bankruptcy (FSLR, LDK, JASO, STP, WFR, ENER, TAN)

Paul Ausick — Tue, 14 Feb 2012 16:11:14 +0000

Shares in solar panel makers are getting a thrashing this morning on the expectation that cuts to Germany’s feed-in tariff will be more severe than previously expected. First Solar Inc. (NASDAQ: FSLR), LDK Solar Co. Ltd. (NYSE: LDK), JA Solar Holdings Co. Ltd. (NASDAQ: JASO), and Suntech Power Holdings Co. Ltd. (NYSE: STP). Polysilicon and wafer provider MEMC Electronic Materials Inc. (NYSE: WFR) is also taking a hit, although it could suffer fewer effects from a German cutback.

All this follows the inevitable bankruptcy filing this morning from Energy Conversion Devices Inc. (NASDAQ: ENER). The company probably only held on this long in order to really punish investors who thought ECD would turn things around. We have more coverage here.

As for the German tariff cuts, Forbes reports that a proposal will be introduced tomorrow to cut the feed-in tariff by 15% in April and 2% a month thereafter. The proposal also includes a cap on the total amount of the subsidy.

Since January 1st, Chinese solar panel makers’ shares are up sharply, with Suntech up more than 55%, JA Solar up nearly 43%, and LDK up almost 39%. MEMC is up about 24%. First Solar is also up, but by a more modest 13%. By the time today’s session closes, these stocks could be back where they were a month ago.

At mid-morning, First Solar is trading down nearly -9% at $38.20. LDK is down nearly -8% at $5.83, JA Solar is down more than -6% at $1.92, Suntech is down more than -8% at $3.44, and MEMC is down almost -7%. The Guggenheim Solar ETF (NYSE: TAN) is also down almost -6.5% at $3.19.

Paul Ausick

Filed under: 24/7 Wall St. Wire Tagged: ENER, FSLR, JASO, LDK, STP, WFR

Energy Conversion Devices Bankruptcy… Energy Suppression (ENER, TAN)

Administrator — Tue, 14 Feb 2012 15:29:01 +0000

Energy Conversion Devices, Inc. (NASDAQ: ENER) has proven that penny stocks in trouble just cannot be trusted. The small solar player used to be close to $100 and then dropped, and drop, and kept dropping. Now the company has filed for Chapter 11 bankruptcy protection.

This was one of the ten companies we outlined as unlikely to survive 2012.

The company is now seeking to sell itself. It could have done that long ago when there was still some value in the stock, but that is what happens when amateurs refuse to accept the writing on the wall as having merit. Its ovonic battery company was sold to BASF, and operations will supposedly continue during the sale process.

The Company says that it has received support for its operating and divestiture plan under formal support executed with holders of approximately 70% of its $263.2 million in outstanding 3% Convertible Senior Notes due 2013.

Energy Conversion Devices has retained the investment banking firm Quarton Partners, LLC.

Perhaps the new name should be called Energy Suppression Devices.

Shares are down about 75% at $0.30. With a low of $0.20 in the last few months, some investors think this bankruptcy will not leave them with a goose egg.

The Guggenheim Solar ETF (NYSE: TAN) is down 5% at $3.24.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Alternative Energy, Bankruptcy, Green Biz Tagged: ENER

More Short Covering Exaggerates Solar Rallies (TAN, FSLR, SPWR, ENER, TSL, WFR)

Administrator — Thu, 09 Feb 2012 20:10:07 +0000

Solar stocks are on fire. Still, they are so far down from a year ago that celebrating the move it difficult to do. To show just how powerful this move up and down and up has been, look no further than the solar ETF via the Guggenheim Solar ETF (NYSE: TAN). This ETS is up 10% today and the move has been now almost 60% from the lows of December 28. Still, the $3.83 price compares to a year ago high of over $9.00 and it is down from over $11.00 at the start of 2010.

Many solar stocks are likely experiencing rapid short covering. Sticking around for the lowest prices after serious success is a sucker’s game. There may also be a political angle here now that President Obama’s poll numbers are looking a bit better. The problem is that it is going to take more now than a President with a continued favorable stance to alternative energy. The fundamentals remain weak and now investors are getting to evaluate whether there is any value of if they are value traps. Take a look at some of the moves…

First Solar, Inc. (NASDAQ: FSLR) is up 7.5% at $49.29 against a 52-week range of $42.50 to $175.45. The most recent short interest data showed that the short interest was 18 million shares and that was actually down from most reports in the fourth quarter of 2011

SunPower Corporation (NASDAQ: SPWR) is up over 13% at $8.53 today against a 52-week range of $4.94 to $23.36. The most recent short interest data showed that the short interest was 5.7 million shares, down from a November peak of 9.3 million shares and much lower than the 11.7 million shares short back at the end of June.

Energy Conversion Devices, Inc. (NASDAQ: ENER) is even up 12% to $1.29 and no longer at much of a delisting risk. Its 52-week range is $0.20 to $4.29. The most recent short interest data showed that the short interest was 11.4 million shares at the lowest levels in a year since it had become a penny stock.

Trina Solar Limited (NYSE: TSL), out of China, is up a whopping 24% at $11.44 against a 52-week range of $5.28 to $31.08. That makes for a gain of 70% so far in 2011 and it would have to almost rise 200% to challenge its year-high. The most recent short interest data showed that the short interest was 15.5 million shares.

MEMC Electronic Materials, Inc. (NYSE: WFR) is also up 8% at $5.78 against a 52-week range of $3.65 to $15.04. That gives a gain of almost 47% so far in 2012. The most recent short interest data showed that the short interest was 14.5 million shares and that was actually higher than at the end of 2011 even if it is lower than prior months.

JON C. OGG

Filed under: 24/7 Wall St. Wire, ADR, Alternative Energy, Green Biz, Short Interest, Trading Alert Tagged: ENER, FSLR, SPWR, TAN, TSL, WFR

Solar Tries For Significant 2012 Comeback (FSLR, WFR, TAN, KWT, SPWR, STP, YGE, LDK, ENER, XLU)

Administrator — Wed, 11 Jan 2012 18:12:55 +0000

So far we are seeing a continued rotation. What worked great in 2011 is being sold and the worst performing groups are being bought. No sector with as many names in it took it on the chin as much as the solar sector last year. Despite many headwinds and fears of a recession, Germany could end up being the saving grace for solar power this year by sucking up the excess supply of PV panels.

Solar makers are trying to stage a recovery. First Solar, Inc. (NASDAQ: FSLR) is the leader of the pack in quality and operations and its shares are up about 9% at $42.30 versus a 52-week trading range of $29.87 to $175.45. Even more impressive is the move in shares of MEMC Electronic Materials Inc. (NYSE: WFR) with a 17% gain to $4.58 versus a 52-week range of $3.65 to $15.04. Even the Guggenheim Solar (NYSE: TAN) ETF and the Market Vectors Solar Energy ETF (NYSE: KWT) are surging. We are paying close attention to SunPower Corporation (NASDAQ: SPWR), Suntech Power Holdings Co. Ltd. (NYSE: STP), Yingli Green Energy Holdings Co. Ltd. (NYSE: YGE), LDK Solar Co. Ltd. (NYSE: LDK), Energy Conversion Devices, Inc. (NASDAQ: ENER) and others as well. Here are the other movers with relative prices to their 52-week highs:

SunPower Corporation (NASDAQ: SPWR) is up 9.5% at $7.33, down from a year high of $23.36;
Suntech Power Holdings Co. Ltd. (NYSE: STP) is up a whopping 25% at $3.22 versus a year high of $10.83;
Yingli Green Energy Holdings Co. Ltd. (NYSE: YGE) is up 17% at $4.85 versus a year high of $13.59;
LDK Solar Co. Ltd. (NYSE: LDK) is up 11.3% at $5.21 against a high of $14.97 in the last year, although it is easy to stick by the guns that LDK is mathematically bankrupt without the coverage of the Chinese government.
Energy Conversion Devices, Inc. (NASDAQ: ENER) is up 23% at $0.38 against a high of $4.80 but this is one still is unlikely to survive 2012.

In the world of ETFs, these are running as well: Guggenheim Solar (NYSE: TAN) is up 10.5% at $2.95 versus a high of $9.16 and Market Vectors Solar Energy ETF (NYSE: KWT) is up 11.5% at $4.45. The more diversified alt-energy ETF of PowerShares WilderHill Clean Energy (NYSE: PBW) is up less than all of these with gains of 4.8% at $5.65.

Before getting too euphoric keep in mind that this is not unusual at the start of a year or new period where sector rotation favors the most beaten up sector. Besides that, there is always the political angle on the solar sector that is front and center in the elections this year.

What we do know within reason is simple: solar PV unit prices cannot drop by another 50% or so in 2012. If pricing has bottomed, perhaps these value traps may get to migrate to value stocks after all. We still expect margin pressure, austerity, and a lack of the ability to pay dividends to all equal concerns of PV panel dumping by Chinese firms leading to a virtual race toward zero.

If you want to know just how big this news is, the S&P Utility Sector was the best performing sector in all of 2011 and its gains were not quite 15%. To prove the point, the Utilities Select Sector SPDR (NYSE: XLU) ETF rose by 19% in 2011 if you adjust for the dividend payments as so many utilities offer investors dividend yields of 4% and higher.

JON C. OGG

Filed under: Alternative Energy, ETF, Green Biz, Utilities Tagged: ENER, FSLR, KWT, LDK, SPWR, STP, TAN, WFR, XLU, YGE

Ten Stocks Unlikely To Survive 2012 (ALIM, AMR, APP, EK, ENER, FFN, NRTLQ, PNCL, RDDY, YRCWD)

Administrator — Fri, 30 Dec 2011 13:15:59 +0000

Calling on the death of a company is no fun task. Some companies cannot get it right and it is amazing how some companies can hold on to a status as a public company. 24/7 Wall St. has compiled a list of ten stocks which may disappear in 2012. Some will likely avoid the hangman, while others seem doomed.

The list includes the following still-public stocks: Alimera Sciences, Inc. (NASDAQ: ALIM); AMR Corporation (NYSE: AMR); American Apparel, Inc. (AMEX: APP); Eastman Kodak Co. (NYSE: EK); Energy Conversion Devices, Inc. (NASDAQ: ENER); FriendFinder Networks, Inc. (NASDAQ: FFN); Nortel Networks Corp. (NRTLQ); Pinnacle Airlines Corp. (NASDAQ: PNCL); Reddy Ice Holdings, Inc. (RDDY); YRC Worldwide Inc. (NASDAQ: YRCWD).

Almost all of these have either had a form of bankruptcy or reorganization, while others have been in the rumor mill for quite some time. We included a write-up on each, and have even have gone as far as discussing some caveats which could help some of these stocks to survive. There is even a chance that a couple of these could end up being major turnaround stocks.

Alimera Sciences, Inc. (NASDAQ: ALIM) saw a share price implosion take place in November after the FDA all but rejected its eye drug. We covered this one at BioHealthInvestor with a near 75% drop on the news after being public less than two years. Shares fell to $1.96 with a $61 million market cap and shares are now at $1.30 with a $41 million market cap. The good news is that it has no debt overhang and it may be able to scrap operating costs down to nothing. Still, we cannot see how it can fund itself through another set of trials. Mathematically it is more than financially challenged, even if the company manages to hang on as a NASDAQ listing.

AMR Corporation (NYSE: AMR) is effectively done already. We had been expecting an NYSE delisting notice to come for a while, even though there was a time even in the last week of the year where shares gapped up big and traded as though there may be some intrinsic post-bankruptcy value left for common shareholders. That would not be the normal post-bankruptcy value. While anything is possible, this one will move to the pink sheets and will trade around with a 5-ticker symbol for a while.

American Apparel, Inc. (AMEX: APP) has so far managed to avoid being delisted and so far managed to avoid a bankruptcy through a shaky history. Still, things have been sketchy here for so long that even a near-40% jump in shares from $0.57 to $0.75 since its early December business update showed improving store sales metrics. This company has managed to survive on less than $10 million in cash but still has a net tangible value of $56 million despite a loss in 2010 of $86 million. Here is the caveat” American Apparel has managed to exist in this diminished state for some time and its controversial CEO has managed to hang on. Maybe the company can pull a rabbit out of a hat and turnaround. American Apparel often notes “going concern” as a risk under its safe harbor statements in press releases.

Eastman Kodak Co. (NYSE: EK) has done everything wrong and had everything go wrong that could go wrong. Antonio Perez has been on our list of CEOs that need to be fired for years now and the company has stuck its head in the sand for far too long. The bankruptcy rumors have swirled for long enough. The real value left in the company is in the patents, but the company has not been able to make its patent machine turn into a survival machine. The KKR board members have also resigned and that could be a sign that the private equity firm will try to force a move here so it can secure whatever value is left. At the end of September when we polled our readers, the poll response was that Kodak was more likely to go bankrupt than Greece. Ouch.

Filed under: Accounting, Bankruptcy, Corporate Governance, Cult Stock, Editor's Picks, Mergers and Buy Outs, Personal Finance, Restatements, Rumors, Shareholder Issues, Turnarounds Tagged: ALIM, AMR, APP, EK, ENER, FFN, NRTLQ, PNCL, RDDY, YRCWD

24/7 Wall St. Closing Bell (DWA, HRB, PCLN, RAD, WAG, ADSK, GM, AONE, IL, NILE, HNR, NP, ENER, PRTS, ORLY, AMSC, NOR, C, BZH)

Paul Ausick — Wed, 09 Nov 2011 21:07:49 +0000

Pre-market signals were weak today, and once trading opened, the signals got stronger. The DJIA has traded down more than -200 points for most of the day, with financial and energy stocks the hardest hit. Rates on Italian bonds topped 7% this morning, sending traders running away from equities and commodities alike. The only gainer for the day appears to be the dollar, which is stronger against the euro and the yen in the mid-afternoon. Crude prices fell below $95/barrel before recovering to near $98/barrel, and gold is down at $1,789.30. About an hour before closing, nearly 99% of the S&P 500 stocks were down on the day.

The unofficial closing bells put the DJIA down more than -389 points to 11,780.94 (-3.2%), the NASDAQ fell nearly -106 points (-3.88%) to 2,621.65, and the S&P 500 fell -3.67% or nearly -47 points to 1,229.10.

There were several analyst upgrades and downgrades today, including DreamWorks Animation SKG Inc. (NYSE: DWA) cut to ‘sell’ at Janney; H&R Block, Inc. (NYSE: HRB) raised to ‘outperform’ at Oppenheimer; Priceline.com Inc. (NASDAQ: PCLN) cut to ‘hold’ at S&P Capital IQ; Rite Aid Corporation (NYSE: RAD) raised to ‘outperform’ at Credit Suisse; Walgreen Co. (NYSE: WAG) cut to ‘neutral’ at Credit Suisse; and Autodesk Inc. (NASDAQ: ADSK) cut to ‘neutral’ at BofA/ML.

Here are today’s big post-earnings news reactions with prices during the last half-hour of trading: General Motors Co. (NYSE: GM) is up down about -10%, at $22.48; A123 Systems Inc. (NASDAQ: AONE) is down less than -1%, at $3.09; IntraLinks Holdings, Inc. (NYSE: IL) is down more than -37%, at $5.50, after posting a new 52-week low of $5.44 earlier today; Blue Nile Inc. (NASDAQ: NILE) is down nearly -16%, at $33.24; Harvest Natural Resources Inc. (NYSE: HNR) is down more than -19%, at $8.80; and Neenah Paper, Inc. (NYSE: NP) is up more than 12%, at $18.84.

Several other standouts from today are as follows…

Energy Conversion Devices, Inc. (NASDAQ: ENER) is down more than -32%, to $0.41. The company has said that it will suspend manufacturing and cut 500 jobs. Excess inventory of solar panels gets the blame.

U.S. Auto Parts Network, Inc. (NASDAQ: PRTS) is down more than -22%, at $3.94, after posting a new 52-week low of $3.66 earlier in the day. The company received a waiver from one of its lenders for failing to meet coverage ratio requirements.

O’Reilly Automotive, Inc. (NASDAQ: ORLY) is down about -1.1%, at $76.44, after posting a new 52-week high of $77.95 earlier today. We noted the company’s performance earlier today in an article on auto sector implied gains.

American Superconductor Corp. (NASDAQ: AMSC)) is up nearly 10%, to $4.49. The company reported earnings today, and its growing order backlog indicates a possible turnaround following the loss of its biggest customer earlier this year.

Noranda Aluminum Holding Corp. (NYSE: NOR) is down more than -16%, at $8.51. The company will pay a special dividend of $1/share to shareholders of record as of yesterday’s close. That pushed the shares down a buck this morning, and the rest is due to the overall market decline today.

Citigroup (NYSE: C) is down more than -8%, at $28.78. The bank claimed the largest decline among the big US banks today.

Beazer Homes USA Inc. (NYSE: BZH) is down nearly -8%, at $2.17. There was no special news from Beazer today, but the threatened burst of new foreclosures soon to hit the housing market have had a nasty effect on this lower-priced builder.

Stay tuned for Thursday. Atlanta Federal Reserve Bank president Dennis Lockhart is giving a speech in the morning and Federal Reserve chairman Ben Bernanke will hold a town hall meeting with soldiers and their families at Fort Bliss, Texas, at 11:45 a.m. We have noted the following events (all times Eastern):

8:30 a.m. – International trade balance report
8:30 a.m. – Initial unemployment benefits claims
8:30 a.m. – Monthly import/export price report
9:45 a.m. – Bloomberg consumer comfort index
10:30 a.m. – EIA natural gas inventory report
2:00 p.m. – Monthly US Treasury budget report
4:30 p.m. – Federal Reserve balance sheet and money supply report

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: ADSK, AMSC, AONE, BZH, C, DWA, ENER, GM, HNR, HRB, IL, NILE, NOR, NP, ORLY, PCLN, PRTS, RAD, WAG

Short Seller Swarm: Highest Days To Cover (CADX, DMND, TSLA, OMEX, PACR, MNKD, WAVX, ENER, NTRI, ZIXI, MR, ZZ, RCI, MNI, HGG, AM, BPI, LTM)

Administrator — Tue, 27 Sep 2011 15:13:51 +0000

Many investors track the largest increase in short selling, but there is another crucial way to look at short interest: the days to cover often tells just how actively shorted a stock is, as does a large percentage of its float. More importantly, these often represent a longer-term bias by the trading community. We have tracked the NASDAQ and NYSE short interest data today to screen for companies with the highest days to cover ratios (all are over one months of trading volume). We also looked for a high percentage of its shares outstanding or its float to be in the short interest. Almost all of these also had an increase in the period from August 31 to September 15 settlement dates.

The NASDAQ stocks which fit this bill are as follows: Cadence Pharmaceuticals, Inc. (NASDAQ: CADX); Diamond Foods, Inc. (NASDAQ: DMND); Tesla Motors, Inc. (NASDAQ: TSLA); Odyssey Marine Exploration, Inc. (NASDAQ: OMEX); Pacer International, Inc. (NASDAQ: PACR); MannKind Corporation (NASDAQ: MNKD); Wave Systems Corporation (NASDAQ: WAVX); Energy Conversion Devices, Inc. (NASDAQ: ENER); NutriSystem Inc. (NASDAQ: NTRI); and Zix Corporation (NASDAQ: ZIXI).

The NYSE stocks which fit this bill, except for one, are as follows: Mindray Medical International (NYSE: MR); Sealy Corporation (NYSE: ZZ); Rogers Communication, Inc. (NYSE: RCI); The McClatchy Company (NYSE: MNI); HHGregg, Inc. (NYSE: HGG); American Greetings Corporation (NYSE: AM); Bridgepoint Education, Inc. (NYSE: BPI); and Life Time Fitness (NYSE: LTM).

We only looked at companies with an average volume of more than 250,000 shares and have added some loose color on these if applicable.

Filed under: Short Interest, Trading Alert Tagged: AM, BPI, CADX, DMND, ENER, HGG, LTM, MNI, MNKD, MR, NTRI, OMEX, PACR, RCI, TSLA, WAVX, ZIXI, ZZ

Short Seller Moves in Alt Energy Stocks (FSLR, SPWRA, ENER, LDK, TSL, TSLA, RBCN, VECO, CREE, CPST, AMAT, GTAT)

Administrator — Tue, 27 Sep 2011 12:33:38 +0000

In the wake of the weak global economic news, some alternative energy stocks are being swept along in the current of bad news, while a few others are making a bit of a comeback. Overall, though, short interest in these alt energy stocks remains quite high.

In the solar sector, short interest in First Solar Inc. (NASDAQ: FSLR) rose by 10.5% in the week ending August 31st, to 18.85 million shares, or nearly 32% of the stock’s float. Short interest in SunPower Corp. (NASDAQ: SPWRA) fell by -4.1%, to 7.22 million shares, or 28% of the stock’s float. Short interest in Energy Conversion Devices, Inc. (NASDAQ: ENER) rose slightly, 0.6%, to 14.31 million shares, or 25% of the stock’s float. Short interest in LDK Solar Co. Inc. (NYSE: LDK) fell by -20%, to 29.28 million shares. LDK’s days to cover is 11. Short interest in Trina Solar Ltd. (NYSE: TSL) rose 23.8%, to 20.54 million shares and days to cover is 5.

Among the leaders in short interest is Tesla Motors, Inc., with 22.9 million shares short, or 43% of the float. Days to cover Tesla stock is a very high 31.

The LED lighting sector has also attracted short attention. Short interest in Rubicon Technology Inc. (NASDAQ: RBCN) fell -2.5%, to 5.46 million shares, but that’s still more than 31% of the float held by shorts. Days to cover is 14. Short interest in Cree Inc. (NASDAQ: CREE) rose 9.2%, to 20.58 million shares, 19.3% of the company’s float. Short interest in Veeco Instruments Inc. (NASDAQ: VECO) fell by -7.7%, to 10.96 million shares, or 27% of the stock’s float.

Turbine maker Capstone Turbine Corp. (NASDAQ) saw short interest rise by just 0.7%, to 42.48 million shares, or 16.5% of float. Days to cover is 18.

Semiconductor equipment makers Applied Materials, Inc. (NASDAQ: AMAT) and GT Advanced Technologies, Inc. (NASDAQ: GTAT) both saw drops in short interest. Applied’s short interest fell to 23 million shares, just 1.8% of its float. GT’s short interest fell to 22.23 million shares, which is 18% of the stock’s float. GT’s days to cover is 18.

Data from Nasdaq and NYSE.

Paul Ausick

Filed under: Alternative Energy, Green Biz, Short Interest Tagged: AMAT, CPST, CREE, ENER, FSLR, GTAT, LDK, RBCN, SPWRA, TSL, TSLA, VECO