Energy

Short Interest Rises in Solar Stocks, Mixed in Alternative Fuels

Paul Ausick

Published: January 11, 2019 12:15 pm

Last Updated: January 31, 2020 2:09 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on December 31. Of the companies we watch, short interest rose on all three solar stocks and on three of five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest rise by 5.7% to 10.9 million shares, which represents about 14.6% of the company’s float. Days to cover rose from four to seven. In the two-week short interest period, the stock’s share price fell by about 1.2%. The stock’s 52-week range is $36.51 to $81.72, and it closed at $46.96 on Thursday, up about 1.7% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest rose by 12.4% to 23.45 million shares, or 38.3% of the company’s float. In the short interest period, the share price tumbled by about 19.5%. The stock’s 52-week range now is $4.55 to $10.00, and it closed at $5.42 on Thursday, up about 1.5% for the day. Days to cover dipped from 15 to 12.

Canadian Solar Inc. (NASDAQ: CSIQ) saw an increase of less than 1% in short interest during the two weeks to December 31. Some 6.2% of the total float, or 2.8 million shares, were short, and days to cover remained unchanged at four. The company’s shares traded down about 12.7% over the period, and shares closed Thursday at $17.62, up about 2.4% for the day, in a 52-week range of $11.37 to $17.97.

Bloom Energy Corp. (NYSE: BE) short interest fell by 2.5% in the short interest period. Some 3.8 million shares were short, representing 21.7% of the company’s total float. Days to cover came in at seven, and the stock price plunged by about 30% during the two weeks. Shares closed Thursday at $12.02, down about 1% for the day, in a 52-week range of $9.42 to $38.00.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a rise of 11% in short interest during the latter half of December. Some 13.18 million shares were short most recently, about 13.5% of the total float. The stock closed at $0.55 on Thursday, down a penny for the day, in a 52-week range of $0.47 to $2.11. Shares traded up about 1.5% in the short interest period, and days to cover dropped from 10 to seven.

Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by 6% to 36.3 million shares. Days to cover fell from 15 to seven, and about 15.8% of the company’s shares were short. In the two weeks to December 31, the share price fell by about 9.7%. The stock’s current 52-week range is $0.99 to $2.42, and shares closed Thursday at $1.44, down about 4% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 13.6% in short interest to 3.99 million shares. About 3% of the company’s float was short, and days to cover fell from five to three. The share price fell by about 10.7% in the two-week period. The stock closed at $2.06 on Thursday, down less than 1% for the day, in a 52-week range of $1.31 to $4.05.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 15.1% in the period to 936,893 shares, about 2.1% of the company’s float. Days to cover fell from two to one. The stock price fell by about 39% in the final two weeks of December. Shares closed at $1.19 on Thursday, down about 4.8% for the day, in a 52-week range of $0.76 to $4.75.

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