Energy

Short Sellers Rekindle Enthusiasm for Solar

Thinkstock

Short interest moves among solar stocks increased during the two-week reporting period that ended on November 13. In the solar sector all five companies we watch saw short interest rise. Meanwhile, three of four alt energy stocks saw a decrease in short interest during the period, but short interest rose sharply in the only ethanol maker on the list.

First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 2.9% to 5.72 million shares, which represents 7.7% of the company’s float. Days to cover remained unchanged at three. In the two-week short interest period through November 13, shares rose about 3.4%. The stock’s 52-week range is $39.18 to $65.50 and it closed at $56.17 on Tuesday up about 2.4% for the day.

SunEdison Inc. (NYSE: SUNE) showed an increase of 5.7% in short interest, to 92.1 million shares. About 29.5% of the company’s float is now short and days to cover remained unchanged at three. In the latest two-week short interest reporting period, the share price fell by more than 40%. The stock closed at $4.12 Tuesday night, up about 37% for the day, in a 52-week range of $2.55 to $33.45. The company repaid $410 million on a $415 million margin loan on Tuesday, brightening its prospects considerably.

Sunpower Corp. (NASDAQ: SPWR) short interest rose by 6.1% to 6.45 million shares, or 11.3% of the company’s float. In the two-week short interest period to November 13, the share price fell by nearly 15%. The stock’s 52-week range is $18.25 to $35.11 and it closed at $24.08 on Tuesday, up about 4% for the day. Days to cover remained unchanged at five.

SolarCity Corp. (NASDAQ: SCTY) saw short interest rise by 9.1% to 29.46 million shares, its highest level of short interest in the past 12 months and 49% of the company’s total float. Days to cover rose from five to six. In the two-week short interest period, the share price fell by about 32%. The stock’s 52-week range is $24.07 to $63.79, and shares closed at $28.57 Tuesday night, up about 1.3% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a rise of 3.6% in short interest in the two-week period to November 13. Some 15.2% of the total float, 6.47 million shares, are short, and days to cover fell from three to two. The company’s shares lost just 0.6% over the two-week period. Shares closed Tuesday at $21.85, up about 3.4% for the day, in a 52-week range of $14.16 to $40.08.

FuelCell Energy Inc. (NASDAQ: FCEL) had a drop of less than 1% in short interest during the two-week period. About 13.9% of the company’s float, 35.85 million shares, is short and days to cover fell from 23 to 18. In the two-week short interest period the shares fell by 2.9%. The stock closed at $0.848 on Tuesday, up about 4.2% for the day, in a 52-week range of $0.64 to $1.81.

Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 0.6% to 35.07 million shares. Days to cover dropped from 15 to 6 and about 20.4% of the company’s shares are short. In the two weeks to November 13, the stock’s share price fell by 23%. The stock’s 52-week range is $1.56 to $4.03 and shares closed Tuesday at $1.94, up 1% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 4.7% in short interest to 16.22 million shares. About 22.9% of the company’s float is short and days to cover dropped from 17 to 12. Shares dropped about 9.7% in the two-week period to November 13th. The stock closed at $4.91, up more than 3%, on Tuesday in a 52-week range of $3.73 to $10.48.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 17.1% in the two-week period to 3.8 million shares, about 9.4% of the company’s float. Days to cover slipped from five to three. The stock price fell more than 23% in the two weeks to November 13. The stock closed at $4.03 on Tuesday, up about 5.2% on the day, in a 52-week range of $3.74 to $14.04.

ALSO READ: America’s Best and Worst States to Live In

Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)

Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.

Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.

Click here now to get started.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.