Energy

Short Sellers Betting on Solar and One Alt Energy Stock

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Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on September 28.  Of the companies we watch, short interest rose on two of three solar stocks and rose on three of five alternative energy stocks.

Tuesday’s announcement that the Trump administration is planning to raise the percentage of ethanol allowed in motor fuel pushed the ethanol stock we watch up more than 8% on the day. Solar stocks remain a short seller’s choice, along with one alt energy high flyer.

First Solar Inc. (NASDAQ: FSLR) saw short interest rise by 13.5% to 5.83 million shares, which represents about 7.8% of the company’s float. Days to cover remained at five. In the two-week short interest period, the stock’s share price rose by about 0.9%. Its 52-week trading range is $46.09 to $81.72, and it closed at $47.13 on Tuesday, down about 0.3% for the day.

SunPower Corp. (NASDAQ: SPWR) short interest remained basically flat at 18.16 million shares, or 29.7% of the company’s float. In the two weeks to September 28, the share price rose by about 10.4%. The stock’s 52-week range is $6.36 to $10.00, and it closed at $6.67 on Tuesday, down about 0.4% for the day. Days to cover dropped from 14 to seven.

Canadian Solar Inc. (NASDAQ: CSIQ) saw an increase of 9.6% in short interest during the two-week period. Some 6.9% of the total float, or 3.08 million shares, were short, and days to cover rose from six to seven. The company’s shares traded down about 0.3% over the short interest period, and shares closed Tuesday at $14.52, up about 1.9% for the day, in a 52-week range of $11.37 to $19.09.

Bloom Energy Corp. (NYSE: BE) short interest rose by 8.9% in the two weeks to September 28. Some 2.54 million shares were short, representing 14.7% of the company’s total float. Days to cover remained at four, and the stock added about 13.1% to its price during the period. Shares closed Tuesday at $26.10, down 3.6% for the day, in a 52-week range of $18.50 to $38.00.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a decline of 6.3% in short interest during the final two weeks of last month. Some 9.64 million shares were short as of September 28, about 10.5% of the total float. The stock closed at $1.04 on Tuesday, up about 0.5% for the day, in a 52-week range of $1.00 to $2.31. Shares traded down about 2.3% in the short interest period, and days to cover remained at nine.

Plug Power Inc. (NASDAQ: PLUG) saw short interest drop by 6.3% to 33.73 million shares. Days to cover rose from 12 to 13, and about 15.9% of the company’s shares were short. In the latter two weeks of September, the share price rose by about 4.4%. The stock’s 52-week range is $1.53 to $3.21, and shares closed Tuesday at $1.86, unchanged for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw an increase of 33% in short interest to 4.74 million shares. About 3.5% of the company’s float is short and days to cover remained at four. The share price dropped by 3.9% in the period. The stock closed at $2.48 on Tuesday, unchanged for the day, in a 52-week range of $1.31 to $4.05.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 5.9% in the short interest period to 910,148 shares, about 2.1% of the company’s float. Days to cover fell from three to two. The stock price soared by more than 25% in the two weeks. Shares closed at $2.91 on Tuesday, up about 8.2% for the day, in a 52-week range of $1.55 to $5.55.

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