Energy Business

Short Seller Surprise, Alternative Energy Mixed Bag (CSIQ, CPST, CLNE, ENER, ESLR, FSLR, FCEL, SOLR, HOKU, JASO, SFUN, SPWRA, SPWRB)

Solar_panel_picWith oil tanking, many alternative energy stocks and solar stocks have been paying for it.  They were the leveraged winners when oil was running up and now they are paying the price on the way down.  You will see some major increases in the short selling in some of the key stocks, but it is amazing just how mixed the bets are with some seeing real drops in the short interest.  Maybe the notion is out that with suddenly super-low P/E ratios and with many off 75% or more that the worst is behind:

Stock (Ticker)                                      NOV. 28      NOV. 14   CHANGE
Canadian Solar Inc. (CSIQ)                  2,427,370    3,368,857   -27.95%
Capstone Turbine Corp. (CPST)           17,560,127   18,493,021  -5.04%
Clean Energy Fuels Corp. (CLNE)         3,410,178    3,278,222   +4.03%
Energy Conversion Devices (ENER)     12,318,601   11,092,675  +11.05%
Evergreen Solar, Inc. (ESLR)               24,902,180   25,732,337   -3.23%
First Solar, Inc.    (FSLR)                      9,307,012    7,074,475   +31.56%
FuelCell Energy, Inc. (FCEL)                 9,091,358    9,447,180   -3.77%
GT Solar International (SOLR)                2,614,025    2,092,142   +24.94%
Hoku Scientific, Inc. (HOKU)                 2,040,200    2,442,894   -16.48%
JA Solar Holdings, Co. (JASO)            18,283,207   16,661,472  +9.73%
Solarfun Power Holdings Co. (SFUN)     5,003,987    5,249,784   -4.68%
SunPower Corp. (A) (SPWRA)            11,114,809   12,210,305   -8.97%
SunPower Corp. (B) (SPWRB)              3,230,046    1,990,460   +62.28%

Jon C. Ogg
December 10, 2008