Energy

Short Sellers Bet on More Lows in Solar, Alt Energy Stocks

Alternative Energy sources
Source: thinkstock
Short interest moves among solar and alternative energy stocks were mixed during the two-week reporting period that ended on August 14. In solar, four of the five companies we watch saw short interest rise, while two of four alt energy stocks also saw a rise in short interest during the period.

First Solar Inc. (NASDAQ: FSLR) saw short interest decrease by 2.3% to 6.29 million shares, which represents 8.5% of the company’s float. Days to cover fell from three to two. In the two-week short interest period through August 14, shares jumped by 13.7%. The stock’s 52-week range is $39.18 to $73.78, and it closed at $44.38 on Tuesday up 1.8% for the day.

SunEdison Inc. (NYSE: SUNE) showed an increase of 22% in short interest to 88.16 million shares. About 28.2% 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 tumbled by nearly 45%. The stock closed at $8.80 Tuesday night, down about 18% for the day, in a 52-week range of $8.78 to $33.45. The low was posted on Tuesday. Investors are concerned with the number of acquisitions the company has made, and the amount of debt SunEdison has piled up, now at more than $10 billion.

SunPower Corp. (NASDAQ: SPWR) short interest rose by 7.8% to 7.05 million shares, or 12.4% of the company’s float. In the short interest period, shares declined by nearly 12%. The stock’s 52-week range is $18.25 to $39.95, and it closed at $22.76 on Tuesday, up about 2% for the day. Days to cover rose from three to four.

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SolarCity Corp. (NASDAQ: SCTY) saw a short interest rise of 9.9% to 25.98 million shares, or 43.6% of the company’s total float. Days to cover fell from 10 to seven. In the two-week period, the share price fell by about 18%. The stock’s 52-week range is $34.65 to $75.90, and shares closed at $43.63 on Tuesday, down about 0.6% for the day.

Canadian Solar Inc. (NASDAQ: CSIQ) saw a rise of 7.5% in short interest in the two weeks. Some 7.8% of the total float, 3.32 million shares, were short, and days to cover fell from two to one. The company’s shares rose fell about 7.5% over the period. Shares closed Tuesday at $17.11, up about 5.1% for the day, in a 52-week range of $14.16 to $41.12.

FuelCell Energy Inc. (NASDAQ: FCEL) had a rise of 0.8% in short interest during the two-week period. About 16.9% of the company’s float, 43.02 million shares, was short, and days to cover fell from 26 to 19. In the short interest period, the shares dropped 4%. The stock closed at $0.74 on Tuesday, up about 5.4% for the day, in a 52-week range of $0.64 to $2.68.

Plug Power Inc. (NASDAQ: PLUG) saw short interest decrease by 0.7% to 34.2 million shares. Days to cover fell from 18 to 10, and about 19.9% of the company’s shares are short. In the two weeks to August 14, the stock’s share price fell by about 4.5%. Its 52-week range is $1.56 to $5.84, and shares closed Tuesday at $1.85, up about 5.1% for the day.

Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a rise of 7% in short interest to 17.693 million shares. About 25.1% of the company’s float was short, and days to cover fell from 11 to 10. Shares dropped about 15.6% in the two-week period. The stock closed at $4.13, up about 3%, on Tuesday, in a 52-week range of $3.73 to $10.48.

ALSO READ: 3 Merrill Lynch Alternative Energy Stock Picks With Big Dividends

Pacific Ethanol Inc. (NASDAQ: PEIX) saw short interest fall by 16.2% in the two-week period to 2.84 million shares, or about 7% of the company’s float. Days to cover remained unchanged at three. The stock price fell by 2.4% in the first two weeks of the month. The stock closed at $6.31 on Tuesday, down about 4% on the day, in a 52-week range of $6.25 to $23.97. The low was posted on Tuesday.

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