Energy

Short Sellers Yield on Alt Energy, Move on Solar Stocks

Trey Thoelcke

Published: December 27, 2018 7:50 am

Last Updated: January 11, 2020 1:15 pm

Short interest moves favored solar over alternative energy stocks as share prices declined during the two-week reporting period that ended on December 14. Of the companies we watch, short interest rose two of the three solar stocks but fell on four of five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest fall by 9.9% to 10.35 million shares, which represents about 13.8% of the company’s float. Days to cover dropped from 10 to four. In the two-week short interest period, the stock’s share price retreated about 5.3%. Its 52-week trading range is $36.51 to $81.72, and it closed at $41.99 on Wednesday, up 7.0% for the day.

SunPower Corp.’s (NASDAQ: SPWR) short interest rose by 1.0% to 20.87 million shares, or 34.1% of the company’s float. In the two weeks to December 14, the share price fell by about 7.9%. Its 52-week range is $4.55 to $10.00, and the stock closed at $4.95 on Wednesday, up about 0.8% for the day. Days to cover rose from 10 to 15.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a jump of 10.2% in short interest during the two-week period. Some 6.2% of the total float, or 2.77 million shares, were short, and days to cover increased from two to four. The company’s shares traded down about 4.4% over the short interest period, and shares closed most recently at $14.43, up about 3.6% for the day, in a 52-week range of $11.37 to $17.97.

Bloom Energy Corp. (NYSE: BE) short interest rose by 10.5% in the first two weeks of this month. Some 3.89 million shares were short, representing 22.3% of the company’s total float. Days to cover jumped from eight to 13, and the stock price pulled back by about 17.1% during the period. Shares closed Wednesday at $10.78, up about 8.9% for the day, in a 52-week range of $0.40 to $38.00.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a decline of 3.9% in short interest during the two-week period. Some 11.88 million shares were short as of December 14, about 12.9% of the total float. The stock closed at $0.58 on Wednesday, up about 11.3% for the day, in a 52-week range of $0.47 to $2.17. Shares traded down about 19.7% in the short interest period, and days to cover dropped from 23 to 11.

Plug Power Inc. (NASDAQ: PLUG) saw short interest fall by just 0.1% to 34.23 million shares. Days to cover shrank from 25 to 15, and about 14.9% of the company’s shares were short. In the two weeks to December 14, the share price tumbled about 22.6%. The stock’s 52-week range is $0.99 to $2.45, and shares closed most recently at $1.31, after rising 28.4% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a decrease of 6.2% in short interest to 4.61 million shares. About 3.4% of the company’s float was short, and days to cover slipped to five from six. The share price fell by about 15.8% in the two-week period. The stock closed at $1.74 on Wednesday, 7.4% higher for the day, in a 52-week range of $1.31 to $4.05.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest plunge 29.7% in the two-week period to about 814,000 shares, about 1.9% of the company’s float. Days to cover retreated from six to two. The stock price fell by about 14.8% in the period. Shares were last seen at $0.87, down about 2.8% for the day, in a 52-week range of $0.79 to $4.75. That low was posted yesterday.

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