Energy Business

Short Sellers Move to the Sidelines on Solar Stocks, Jump on One Alt Energy Stock

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on July 31.  Of the companies we watch, short interest decreased on two solar stocks and increased on three of five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest slip to 11.1 million shares, which represents about 14.7% of the company’s float. Days to cover fell from nine to eight. In the two-week short interest period, the stock’s share price dipped by about 2.4%. Its 52-week range is $28.47 to $78.54, and it closed at $70.19 on Tuesday, down by about 3.2% for the day.

SunPower Corp.’s (NASDAQ: SPWR) short interest rose by 5% to 25.4 million shares, or 31.7% of the company’s float. Days to cover remained at seven. In the two weeks to July 31, the share price dropped by 12%. Its 52-week range is $4.03 to $15.57, and it closed at $11.63 on Tuesday, down 4.1% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest tumble by 18.8% during the final two weeks of July. Some 4.6% of the total float, or 2.1 million shares, were short, and days to cover decreased from three to two. The company’s shares slipped by 6.7% over the period, and they closed Tuesday at $24.04, down by about 1.7% for the day, in a 52-week range of $12.00 to $26.72.

FuelCell Energy Inc. (NASDAQ: FCEL) short interest increased by 5% during the two-week period. Some 40.9 million shares were short as of July 31, about 19.9% of the total float, and the share price plunged by 25.7%. Days to cover remained at three. The stock closed at $2.62 on Tuesday, down 6.6% for the day, in a 52-week range of $0.23 to $3.42.

Plug Power Inc. (NASDAQ: PLUG) saw short interest fall by 11% to 52.1 million shares. Days to cover remained at three, and about 16.2% of the company’s shares were short. In the two weeks, the share price dropped by 14.7%. The 52-week range is $1.88 to $12.20, and shares closed Tuesday at $11.31, down 6.1% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) short interest jumped by 27% to 3.6 million shares. About 2.5% of the company’s float was short, and days to cover remained at two. The share price dipped by about 5.2% in the two-week period to July 31. The stock closed at $2.78 on Tuesday, down by 4.1% for the day, in a 52-week range of $1.05 to $3.75.

Bloom Energy Corp.’s (NYSE: BE) short interest fell by 10% in the two weeks to July 31. Some 17.1 million shares were short, representing about 18% of the company’s total float. Days to cover fell from five to four, and the stock price plummeted by 31% during the period. Shares closed Tuesday at $12.80, down by about 1.8% for the day, in a 52-week range of $2.44 to $19.67.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest for the two-week period soar by about 151% to 445,776 shares. Less than 1% of the company’s float was short. Days to cover remained at one. Shares closed at $3.50 on Tuesday, up by about 8.2% on the day, in a 52-week range of $0.22 to $4.13. Pacific Ethanol has regained compliance with the minimum $1.00 share price required by Nasdaq for continued listing, but it also has scheduled a special shareholder meeting on August 27 to consider and vote on a reverse stock split in a range of one-for-five to one-for-15.