trending Market Intelligence /marketintelligence/en/news-insights/trending/3hcToPtgJ_h_rJb9dx7p0Q2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Short bettors target SunEdison, Duke, Peabody in 1st half of March

Q3: U.S. Solar and Wind Power by the Numbers

Path to Carbon-Free Power Generation by 2035

The Growing Importance of Data Centers for European & U.S. Renewable Projects

CAISO and ERCOT Power Forecasts by the Hour


Short bettors target SunEdison, Duke, Peabody in 1st half of March

SunEdison Inc.added 326 basis points of short interest to land at 30.24% of shares held shortduring the first half of March, securing the first spot on the list of top 10S&P Global Market Intelligence-covered power and natural gas companies withthe greatest increases in short interest per shares outstanding as of March 15.

Short bettors movedinto the company's stock following news that a of a for SunEdison thattriggered a dramatic sell-off in SunEdison stock when it was announced in July2015.

Duke EnergyCorp. came in second on the list, adding 153 basis points of shortinterest to land at 3.00% of shares held short. The short-betting activity inDuke's stock came after it closeda public offering of 9.25 million common shares at $72 per share to partiallyfund its proposed purchaseof Piedmont Natural Gas Co. Inc.

Duke was followed by Talen Energy Corp., TECO Energy Inc. and Spark Energy Inc., respectively.

SolarCityCorp. sat atop the list of top 10 S&P Global MarketIntelligence-covered power and natural gas companies with the greatestdecreases in short interest per shares outstanding, shedding 300 basis pointsof short interest to land at 25.03% of shares out as of March 15.Short bettors cashed out of the company's stock after J.P. Morgan analystslowered theirinvestment opinion on SolarCity to "neutral" from "overweight"and revised the price target to $29 from $44.

Questar Corp.secured the second spot and dropped 112 basis points of short interest to landat 1.51% of shares out. The short-interest decrease came after Questar andDominion Resources Inc.sought approvals fortheir pending merger dealin Utah and Wyoming. The companies also offered to enhance their to winapproval from Utah regulators.

NRG Yield Inc.occupied the third spot and shed 107 basis points of short interest to land at8.20% of shares out, followed by SCANACorp. and NorthwestNatural Gas Co., respectively.

SunEdison occupied the first spot on the list of the top 10S&P Global Market Intelligence-covered power and natural gas companies withthe greatest volume of short interest per shares outstanding during the period.Other companies featured on the list included SolarCity, , and ,respectively.

Among S&P Global Market Intelligence-covered coalcompanies, Peabody Energy Corp.saw the biggest short-interest increase in terms of basis points, adding 1,371basis points to land at 64.19% of shares held short as of March 15. Theshort-betting activity in the company's stock came after it about the of a potentialbankruptcy if certain actions do not go as hoped and indicated that a lenderwas pushing for a court restructuring.

Peabody was followed by Cloud Peak Energy Inc., which added 304 basis points toland at 25.74% of shares held short during the period.

On the other hand, WestmorelandCoal Co. saw the biggest short-interest decreases in terms of basispoints, dropping 438 basis points to land at 22.24% of shares out as of March15. Investors cashed out of the company's stock after Moody's the ratings ofWestmoreland, including its probability of default rating to Caa1-PD from B3-PDand its corporate family rating to Caa1 from B3, amid continued stress in thecoal sector.

SNL Image