Short interest moves among solar and alternative energy stocks mostly increased during the two-week reporting period that ended on December 15. In the solar sector, three of the five companies we watch saw short interest rise. Two of four alt energy stocks also saw in increase in short interest during the period.
The continuation of federal tax incentives for alternative energy provided share price support to solar makers and installers. The alternative fuel providers had no such help.
First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 2.4% to 5.52 million shares, which represents 7.5% of the company’s float. Days to cover fell from four to two. In the two-week short interest period through December 15, the stock’s share price rose about 6.7%. Its 52-week trading range is $39.18 to $67.80, and it closed at $66.92 on Thursday, up about 1.1% for the day.
SunEdison Inc. (NYSE: SUNE) showed an increase of 3.1% in short interest, to 123.06 million shares. About 39.2% of the company’s float was short, and days to cover rose from one to two. In the latest two-week short interest reporting period, the share price rose by more than 47%. The stock closed at $5.92 last Thursday, up about 9.8% for the day, in a 52-week range of $2.55 to $33.45. After a terrible pounding in the prior short interest period, SunEdison stock got a boost from investors who appear to like the company’s new, more frugal approach.
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