Short Interest in Solar Stocks Rises with Share Prices

Energy

Published: March 10, 2016 8:10 am

Last Updated: January 13, 2020 12:08 pm

Short interest moves among solar and alternative energy stocks mostly increased during the two-week reporting period that ended on February 29. In the solar sector, four of the five companies we watch saw short interest rise. Three of four alt energy stocks saw a decrease in short interest during the period.

A recent research report from Deutsche Bank rated three of the solar companies we cover as a Buy.

First Solar Inc. (NASDAQ: FSLR) saw short interest increase by 5.6% to 6.77 million shares, which represents 9.1% of the company’s float. Days to cover slipped from three to two. In the two-week short interest period through February 29, the stock’s share price rose by about 17%. The stock’s 52-week range is $40.25 to $73.71 and it closed at $68.49 on Wednesday, up about 2.4% for the day. On March 1, JPMorgan cut its rating on the stock from Overweight to Neutral and essentially said that it believed the stock was fairly valued at around $69 a share.

SunEdison Inc. (NYSE: SUNE) showed an increase of 8.1% in short interest to 106.65 million shares. About 34% of the company’s float was short, and days to cover fell from four to two. In the latest two-week short interest reporting period, the share price fell by about 2.9%. The stock closed at $1.92 on Wednesday, down 4% for the day, in a 52-week range of $1.21 to $33.45. Most of the recent bad news for the company came following the close of the short interest period, but the stock posted its 52-week low on February 24.