Energy

Short Sellers Stay Away From Solar Stocks, Add to Alt Energy Positions

Alternative Energy sources
Source: thinkstock
Short interest moves among solar and alternative energy stocks were mixed again during the two-week reporting period that ended on September 30. In the solar sector, four of the five companies we watch saw short interest fall, and three of four alt energy stocks saw an increase in short interest during the period.

First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 3.2% to 5.89 million shares, which represents 8% of the company’s float. Days to cover slipped from four to three. In the two-week short interest period through September 30, shares dropped about 7.5%. The stock’s 52-week range is $39.18 to $65.50, and it closed at $51.20 on Friday, up about 0.2% for the day.

SunEdison Inc. (NYSE: SUNE) showed a slight decrease of 0.5% in short interest, to 93.38 million shares. About 29.9% of the company’s float was short, and days to cover remained unchanged at three. In the latest short interest reporting period, the share price plunged more than 32%. The stock closed at $9.25 Friday night, up about 1% for the day, in a 52-week range of $6.56 to $33.45. The low was set on September 29. The stock has been bludgeoned by investor concerns over acquisitions and the ability of the company’s yieldcos to contribute to profits.

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SunPower Corp. (NASDAQ: SPWR) short interest fell by 3.8% to 6.11 million shares, or 10.7% of the company’s float. In the two-week short interest period to September 30th, the share price declined by nearly 12%. The stock’s 52-week range is $18.25 to $35.11 and it closed at $24.98 on Friday, down about 1% for the day. Days to cover slipped from 6 to 5.

SolarCity Corp. (NASDAQ: SCTY) saw a short interest slip by just 0.5% to 27.1 million shares, or 45.2% of the company’s total float. Days to cover slid from 16 to 14. In the two-week short interest period, the share price fell by just over 11%. The stock’s 52-week range is $34.65 to $63.79, and shares closed at $48.94 Friday night, up about 3.9% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a jump of 24.9% in short interest in the two-week period to September 30. Some 16.1% of the total float, 6.86 million shares, were short, and days to cover slipped from four to three. The company’s shares fell more than 11% over the period. Shares closed Friday at $21.12, up about 2.5% for the day, in a 52-week range of $14.16 to $40.08.

FuelCell Energy Inc. (NASDAQ: FCEL) had a drop of 0.6% in short interest during the two-week period. About 16.7% of the company’s float, 42.49 million shares, was short, and days to cover fell from 23 to 19. In the short interest period, the shares dropped about 20.1%. The stock closed at $0.92 on Friday, up about 0.8% for the day, in a 52-week range of $0.64 to $2.30.

Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by 3.4% to 35.25 million shares. Days to cover fell from 19 to eight, and about 20.5% of the company’s shares were short. In the final two weeks of September, the stock’s share price rose by nearly 9%. The stock’s 52-week range is $1.56 to $5.48, and shares closed Friday at $2.32, up nearly 6% for the day.

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Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a rise of 9.9% in short interest to 19.85 million shares. About 27.9% of the company’s float was short, and days to cover slipped from 14 to 13. Shares jumped nearly 10% in the two-week period. The stock closed at $5.78, down almost 9%, on Friday, in a 52-week range of $3.73 to $10.48.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest rise by 5.5% in the two-week period to 3.29 million shares, about 8.1% of the company’s float. Days to cover rose from three to five. The stock price fell by less than 1% in the two weeks to September 30. The stock closed at $7.05 on Friday, down about 1.3% on the day, in a 52-week range of $6.11 to $15.57.

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