Energy

Short Sellers Dodge Solar, Pounce on 2 Alt Energy Stocks

Paul Ausick

Published: October 10, 2019 8:15 am

Last Updated: January 30, 2020 2:50 pm

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on September 30.  Of the companies we watch, short interest increased on two of three solar stocks and on four of five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest rise by 4% to 10.23 million shares, which represents about 13.6% of the company’s float. Days to cover dipped from nine to eight. In the two-week short interest, the stock’s share price slipped by about 1%. Its 52-week range is $36.51 to $69.24, and it closed at $56.20 on Wednesday, down about 1.3% for the day.

SunPower Corp.’s (NASDAQ: SPWR) short interest increased by about 1% to 18.6 million shares, or 29.7% of the company’s float. In the two weeks to September 30, the share price rose by about 1.1%. The stock’s 52-week range is $4.55 to $16.04, and it closed at $9.79 on Wednesday, down by about 3.3% for the day. Days to cover remained unchanged at six.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest remain flat during the two-week period. Some 6.7% of the total float, or 3.06 million shares, were short, and days to cover fell from five to four. The company’s shares traded down by about 5.9% over the period, and shares closed Wednesday at $18.02, down less than 0.1% for the day, in a 52-week range of $12.69 to $25.89.

Bloom Energy Corp. (NYSE: BE) short interest rose by 9% in the latter two weeks of September. Some 16.28 million shares were short, representing 24.9% of the company’s total float. Days to cover rose from six to seven, and the stock price dropped by about 23% during the period. Shares closed Wednesday at $3.07, down by about 0.3% for the day, in a 52-week range of $3.00 to $28.34.

FuelCell Energy Inc. (NASDAQ: FCEL) posted a whopping increase of 84% in short interest during the two-week period. Some 11.94 million shares were short as of September 30, about 7.4% of the total float. The stock closed at $0.31 on Wednesday, down about 3.9% for the day, in a 52-week range of $0.13 to $12.72. Days to cover remained below one. In the two-week period to September 30, the stock price fell by about 22.6%.

Plug Power Inc. (NASDAQ: PLUG) saw short interest rise by 8% to 46.07 million shares. Days to cover rose from 13 to 14, and about 18.8% of the company’s shares were short. In the short interest period, the share price rose by about 1%. The stock’s 52-week range is $0.99 to $2.94, and shares closed Wednesday at $2.66, up by about 1.1% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 11% in short interest to 2.72 million shares. About 1.8% of the company’s float was short, and days to cover remained at four. The share price fell by about 1.9% in the two weeks. The stock closed at $2.03 on Wednesday, down about 1% for the day, in a 52-week range of $1.61 to $3.47.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest soar by 38% in the two-week period to 1.27 million shares, about 2.8% of the company’s float. Days to cover rose from two to three. The stock price tumbled by 24.4% in the second half of last month. Shares closed at $0.55 on Wednesday, down about 5.8% for the day, in a 52-week range of $0.50 to $2.78.

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