Short Sellers Take a Breather on Solar, Alt Energy Stocks
Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on March 31. In the solar sector, four of the five companies we watch saw short interest drop. Three of four alt energy stocks also saw a decrease in short interest during the period.
Solar and alt energy short sellers appear to have taken a breather in the two-week period to March 31. Not only did short interest generally fall, but days to cover among the alt energy stocks uniformly rose, indicating that the action was somewhere else.
First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 13.2% to 5.39 million shares, which represents 7.2% of the company’s float. Days to cover remained unchanged at three. In the two-week short interest period, the stock’s share price slipped by about 3.4%. The stock’s 52-week trading range is $40.25 to $74.29, and it closed at $59.96 on Monday, down about 1.1% for the day. The 52-week high was posted March 18.
SunEdison Inc. (NYSE: SUNE) showed an increase of 5.7% in short interest, to 126.41 million shares. About 40.2% of the company’s float was short, and days to cover remained at two. In the latest short interest reporting period, the share price fell by nearly 75%. The stock closed at $0.39 on Monday, up 8.2% for the day, in a 52-week range of $0.20 to $33.45. The 52-week low was posted on April 4, following a report in the Wall Street Journal that the company was preparing to file for bankruptcy protection in coming weeks.
SunPower Corp. (NASDAQ: SPWR) short interest fell by 1.6% to 12.64 million shares, or 22.1% of the company’s float. In the short interest period ended March 31, the share price fell by about 5.7%. The stock’s 52-week range is $18.25 to $35.11, and it closed at $21.06 on Monday, down about 1.4% for the day. Days to cover fell from nine to seven.
SolarCity Corp. (NASDAQ: SCTY) saw short interest fall by 3.3% to 23.71 million shares, 38.2% of the company’s total float. Days to cover rose from four to seven. In the short interest period, the share price fell by about 8.7%. The stock’s 52-week range is $16.31 to $63.79, and shares closed most recently at $28.28, up about 1% for the day.
Canadian Solar Inc. (NASDAQ: CSIQ) saw a decrease of 12.5% in short interest during the two-week period. Some 10.9% of the total float, 4.66 million shares, was short, and days to cover rose from two to three. The company’s shares fell about 1.6% over the two weeks. Shares closed most recently at $17.24, down about 0.5% for the day, in a 52-week range of $14.16 to $40.08.
FuelCell Energy Inc. (NASDAQ: FCEL) posted a decrease of 1.4% in short interest during the two-week period. Some 3.45 million shares were short as of March 31. The stock closed at $6.71 on Monday, up about 4% for the day, in a 52-week range of $4.51 to $16.20. Shares dropped about 6.5% in the short interest period, and days to cover rose from four to five.
Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by 3.6% to 33.68 million shares. Days to cover rose from 12 to 17, and about 18.9% of the company’s shares were short. In the two weeks, the stock’s share price rose by about 2.5%. Its 52-week range is $1.30 to $2.98, and shares closed Monday at $2.01, up about 0.5% for the day.
Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a decrease of 8.7% in short interest to 12.94 million shares. About 16.7% of the company’s float was short, and days to cover rose from five to nine. Shares fell by about 4.9% in the period. The stock closed at $2.88, down about 1%, on Monday, in a 52-week range of $2.15 to $10.48.
Pacific Ethanol Inc. (NASDAQ: PEIX) short interest rose by 1% in the two-week period to 3.86 million shares, about 10.5% of the company’s float. Days to cover increased from three to five. The stock price fell by 10% late in the month. Shares closed at $4.00 on Monday, up about 2% on the day, in a 52-week range of $2.41 to $13.70.