SolarCity, First Solar, GT Advanced and SunPower combine for over 26% of KWT’s weight, according to Market Vectors data.
With these earnings reports looming, it must be remembered that upside surprises and positive forward guidance could be the catalysts to spark a round of short covering, a pivotal factor considering the large short positions in solar stocks.
Recent NASDAQ data indicate SunEdison’s short interest has jumped to 25.6% while SunPower’s has climbed to 26.3%, according to 24/7 Wall Street. Short interest in First Solar is up to 15.3% of the company’s float while SolarCity and GT Advanced Technologies are among the most shorted stocks in any sector. [Short Covering Could Lift Solar ETFs]
Guggenheim Solar ETF
