Energy

Short Interest Generally Lower in Solar Stocks, With 1 Exception

Paul Ausick

Published: January 28, 2016 7:40 am

Last Updated: January 13, 2020 2:27 pm

Short interest moves among solar and alternative energy stocks mostly increased during the two-week reporting period that ended on January 15. In the solar sector, two of the five companies we watch saw short interest rise. All four alt energy stocks also saw an increase in short interest during the period.

First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 13.9% to 5.65 million shares, which represents 7.6% of the company’s float. Days to cover remained unchanged at two. In the two-week short interest period, the stock’s share price fell by about 8.5%. Its 52-week range is $40.25 to $72.12 and it closed at $65.64 on Wednesday, down about 2.6% for the day. First Solar now may well be the best house in a bad neighborhood, but short sellers appear to believe that it won’t last.

SunEdison Inc. (NYSE: SUNE) showed a decrease of 5.2% in short interest to 104.19 million shares. About 33.2% of the company’s float was short and days to cover remained flat at two. In the latest two-week short interest reporting period, the share price fell by nearly 46%. The stock closed at $3.33 on Wednesday, up about 9.2% for the day, in a 52-week range of $2.02 to $33.45. Activist investor David Einhorn took a seat on the company’s board of directors Wednesday, driving the stock price up.

SunPower Corp. (NASDAQ: SPWR) short interest rose by 1.5% to 11 million shares, or 19.2% of the company’s float. In the latest short interest period, the share price fell by about 25%. The stock’s 52-week trading range is $18.25 to $35.11, and it closed at $23.95 on Wednesday, down about 0.9% for the day. Days to cover rose from four to five.

SolarCity Corp. (NASDAQ: SCTY) saw short interest drop by 6.3% to 23.85 million shares, or 38.6% of the company’s total float. Days to cover rose from five to eight. In the two-week period, the share price fell nearly 31%. The stock’s 52-week range is $24.07 to $63.79, and shares closed at $32.84 Wednesday night, down about 4% for the day.

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