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TerraForm Power, Dynegy, Peabody attract short interest in 1st half of April

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TerraForm Power, Dynegy, Peabody attract short interest in 1st half of April

TerraFormPower Inc. occupied the first spot on the list of top10 S&P Global Market Intelligence-covered power and natural gas companieswith the greatest increases in short interest per shares outstanding as of April15. The company added 185 basis points of short interest to land at 16.28% ofshares held short during the period. Theshort-betting activity in the Bethesda, Md.-based company's stock came afterBrian Wuebbels resignedas president, CEO and a director of both TerraForm Power and

Dynegy Inc.came in second on the list and added 144 basis points of short interest to landat 8.53% of shares held short. Dynegy was followed by and ,respectively.

SunEdison Inc.sat atop the list of top 10 S&P Global Market Intelligence-covered powerand natural gas companies with the greatest decreases in short interest pershares outstanding, shedding 437 basis points of short interest to land at27.60% of shares out as of April 15. The short-interest decrease followed anApril 1 report in The Wall Street Journal that SunEdisonwas preparing to file for Chapter 11 bankruptcy protection in the coming weeksand was in talks with two creditor groups for a loan that would fund operationsduring the process. SunEdison eventually filed for bankruptcyin the Bankruptcy Court for the Southern District of New York on April 21.

Talen EnergyCorp came in second on the list and dropped 339 basis points ofshort interest to land at 3.91% of shares out. Othercompanies featured on the list included Calpine Corp., ALLETEInc. and PNMResources Inc., respectively.

SunEdison continued to occupy the first place on the list ofthe top 10 S&P Global Market Intelligence-covered power and natural gascompanies with the greatest volume of short interest per shares outstandingduring the period. Other companies featured on the list included , TerraForm Power,Black Hills Corp. andPattern Energy Group Inc.,respectively.

Among S&P Global Market Intelligence-covered coalcompanies, Peabody Energy Corp.saw the biggest short-interest increase in terms of basis points, adding 1,523basis points to land at 73.25% of shares held short as of April 15. Peabody,which filed for Chapter 11 bankruptcy petition April 13, from the bankruptcyprocess as a "leader in the industry well into the future" in adeclaration to the court.

On the other hand, WestmorelandCoal Co. saw the biggest short-interest decreases in terms of basispoints, shedding 369 basis points to land at 16.12% of shares out.Meanwhile, Arch Coal Inc.dropped 302 basis points to land at 7.71% of shares out during the period. Theshort-interest decrease followed Arch Coal's announcement that it was reducing staff at its BlackThunder mine in Wyoming by about 15%, citing "persistent weakness in thethermal coal" market.

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