Short Sellers Confused in Alternative Energy Bets (CSIQ, CPST, CLNE, ENER, ESLR, FSLR, FCEL, SOLR, JASO, LDK, SFUN, SPWRA, STP)

We have seen the new short interest data out of the NASDAQ and NYSE for the end of May reports.  There are many mixed bets in the alternative energy sector.  While some of these are large bets on the surface, overall there was a very small change in the latest short interest data compared to months past.

COMPANY NAME (TICKER)……….. MAY 29… Change from May 15
Canadian Solar Inc. (CSIQ)…………2,549,840   -4.3%
Capstone Turbine Corp. (CPST)…… 17,568,058   +5.8%
Clean Energy Fuels Corp. (CLNE)….3,919,108   -0.1%
Energy Conversion Devices (ENER) 12,649,722  +3.7%
Evergreen Solar, Inc. (ESLR)………. 20,225,435  +0.5%
First Solar, Inc. (FSLR)………………  6,995,776    -2.4%
FuelCell Energy, Inc. (FCEL)………. 5,861,532   +1.7%
GT Solar International (SOLR)……. 5,558,018   -9.7%
JA Solar Holdings, Co. (JASO)……. 6,652,651   +10.4%
LDK Solar Co. Inc. (LDK)……………  13,719,877   +4.1%
Solarfun Power Holdings Co. (SFUN)  1,337,324 -7.1%
SunPower Corp. (SPWRA)……………. 13,885,421   +9.7%
Suntech Power Holdings Co. (STP)… 10,706,960  +8.1%

Usually you see a clear trend or direction in the alternative energy sector.  That does not appear to be the case.  As oil has risen steadily, the downside of betting against these may be to steep and managers telling their clients they bet against the rally after all the pain seen already is probably more than a tough sell.

JON C. OGG
JUNE 10, 2009