Short Interest Heats Up Again in Solar Stocks

June 11, 2014 by Paul Ausick

Solar rooftop installation
Source: Thinkstock
The solar sector doesn’t excite investors the way it did a few years ago, and short sellers have been about as enthusiastic. Prices have stabilized for solar products and that has been encouraging investors. That action in turn brings out the shorts, who think that any run-up in solar stocks is bound to result in a payoff for non-believers. The following information is based on data reported for the two-week period ending May 30.

First Solar Inc. (NASDAQ: FSLR) saw short interest fall by 5.2% to 8.14 million shares, which represents 11.1% of the company’s float. In the two-week short interest period to May 30, shares slipped about 0.2%, and they are up about 8.5% year-to-date through Tuesday’s close at $62.32. The stock’s 52-week range is $35.59 to $74.84.

SunEdison Inc. (NYSE: SUNE) showed an increase of 5.3% in short interest to 67.83 million shares. About 25.5% of the company’s stock is now short. In the latest two-week short interest period, shares gained nearly 9%, and they are up more than 38% year-to-date through Tuesday. The stock’s 52-week range is $6.24 to $21.93, and shares last closed at $19.26. The spin-off of SunEdison Semiconductor Pte. Ltd. (NASDAQ: SEMI) during this two-week period had the opposite effect that short sellers expect: SunEdison’s stock followed the new company’s stock higher.

SunPower Corp. (NASDAQ: SPWR) saw a short interest drop of 5.2% to 11.16 million shares, or 21.8% of the company’s total float. In the two-week short interest period to May 30, shares gained about 1.1%, but they are up 4% year-to-date after closing at $33.60 on Tuesday. The stock’s 52-week range is $17.52 to $37.14.

SolarCity Corp. (NASDAQ: SCTY) showed a rise of 7% in short interest to 12.32 million shares, or 26.3% of the company’s float. In the two-week short interest period, shares slipped 3.4%, and they are down nearly 18% through Tuesday’s close of $49.19. The stock’s 52-week range is $28.31 to $88.35.

GT Advanced Technologies Inc. (NASDAQ: GTAT) saw short interest rise by 6.2% to 45.7 million shares, about 33.9% of the company’s total float. In the two-week short interest period to May 30, shares rose nearly 22%. They are up nearly 80% year to date through Tuesday’s close at $16.34. The stock has a 52-week range of $3.44 to $19.44.

ALSO READ: Short Sellers Change Oil and Gas Bets as Crude Oil Approaches $105

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