Short Interest Heats Up in Solar Stocks

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The solar sector attracted more interest in the past two weeks as shorts look at forward multiples and rising share prices and begin to bet that the sector is overbought. The following information is based on data reported for the two-week period ending June 30.

First Solar Inc. (NASDAQ: FSLR) saw short interest rise by 23.8% to 11.23 million shares, which represents 15.3% of the company’s float. In the two-week short interest period to June 30, shares rose more than 10%, and they are up about 11% year-to-date through Thursday’s close at $63.67. The stock’s 52-week range is $35.59 to $74.84.

SunEdison Inc. (NYSE: SUNE) showed an increase of 1.4% in short interest to 67.92 million shares. About 25.6% of the company’s stock is now short. In the latest two-week short interest period, shares gained more than 16%, and they are up nearly 67% year-to-date through Thursday’s close at $23.23. The new 52-week range is $6.24 to $23.73, as the high was set Thursday.

SunPower Corp. (NASDAQ: SPWR) saw a short interest rise 13.2% to 13.51 million shares, 26.3% of the company’s total float. In the two-week short interest period to June 30, shares gained about 15%. They are up 18% year-to-date after closing at $38.16 on Thursday. The stock’s 52-week range is $20.52 to $42.07.

SolarCity Corp. (NASDAQ: SCTY) showed a rise of 11.1% in short interest to 14.28 million shares, or 30.1% of the company’s float. In the two-week short interest period, shares jumped almost 35%, and they now are up nearly 10% year-to-date. The stock’s 52-week range is $28.31 to $88.35, and shares closed at $65.58 Thursday.

GT Advanced Technologies Inc. (NASDAQ: GTAT) saw short interest fall by 11.2% to 41.34 million shares, about 30.5% of the company’s total float. In the two-week short interest period to June 30, shares rose just 1.5%, but they are up nearly 77% year-to-date through Thursday to close at $16.11. The stock’s 52-week range is $4.29 to $20.54. GT’s year-to-date gains are primarily the result of a deal with Apple Inc. (NASDAQ: AAPL) in which GT will make sapphire glass for Apple’s mobile devices.

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