Energy

Short Sellers Mixed on Alt Energy, Solar After 1 Stock Doubled in Value

Paul Ausick

Published: June 25, 2020 10:00 am

Last Updated: August 14, 2020 9:46 am

Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on June 15. Of the companies we watch, short interest decreased on two solar stocks and on three of five alternative energy stocks.

First Solar Inc. (NASDAQ: FSLR) saw short interest fall by 2.0% to 10.7 million shares, which represents about 14.1% of the company’s float. Days to cover rose from seven to eight. In the two-week short interest period, the stock’s share price tumbled by 13.4%. The stock’s 52-week range is $28.47 to $69.24, and it closed at $49.08 on Wednesday, down by about 5.5% for the day.

SunPower Corp.’s (NASDAQ: SPWR) short interest rose by 3.0% to 20.3 million shares, or 25.3% of the company’s float. In the two weeks to June 15, the share price fell by about 4.7%. Days to cover remained at six. The stock’s 52-week range is $4.03 to $16.04, and it closed at $7.23 on Wednesday, down 3.0% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw short interest fall by about 17.4% during the two-week period. Some 5.6% of the total float, or 2.5 million shares, were short, and days to cover remained at three. The company’s shares rose by 1.4% over the period and closed Wednesday at $19.10, down by about 5.5% for the day, in a 52-week range of $12.00 to $25.35.

FuelCell Energy Inc. (NASDAQ: FCEL) short interest was unchanged during the two-week period. Some 27.5 million shares were short as of June 15, about 14.0% of the total float. Days to cover remained at three. The stock closed at $2.36 on Wednesday, up by about 5.4% for the day, in a 52-week range of $0.13 to $3.37.

Plug Power Inc. (NASDAQ: PLUG) saw short interest increase by 3.0% to 72.1 million shares. Days to cover remained at six, and about 23.4% of the company’s shares were short. In the two weeks to June 15, the share price soared by 101%. The stock’s 52-week range is $1.86 to $6.05, and shares closed Wednesday at $7.57, up 17.7% for the day. The 52-week high was posted Wednesday on news that the company had closed on two acquisitions.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a drop of 15.0% in short interest to 943,200 shares. About 0.7% of the company’s float was short, and days to cover remained at one. The share price fell by about 21.7% in the short interest period. The stock closed at $2.09 on Wednesday, down by 3.2% for the day, in a 52-week range of $1.05 to $2.93.

Bloom Energy Corp. (NYSE: BE) short interest fell by 3.0% in the two weeks. Some 17.0 million shares were short, representing about 19.5% of the company’s total float. Days to cover remained at seven, and the stock price tumbled by 18.6% during the period. Shares closed Wednesday at $8.93, down by about 0.8% for the day, in a 52-week range of $2.44 to $14.51.

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest for the two-week period tumble by about 54.9% to 112,826 shares. Less than 1% of the company’s float was short. Days to cover remained at one. Shares closed at $0.70 on Wednesday, down by less than 1.0% on the day, in a 52-week range of $0.22 to $1.00.

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