More on SunEdison

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.

Cash flows

The company’s operating cash flows in 2Q15 came in at -$621 million in 2Q15 due to losses and adverse working capital changes.

The company spent $65 million on capex during the quarter. Higher investment in projects as well as cash paid for acquisitions drove the company’s investing cash flows, which came in at -$1.9 billion. During the quarter, the company, along with TerraForm (TERP), acquired Atlantic Power Transmission’s five operating wind projects with a total capacity of 521 megawatts for $347 million in cash. Plus, TerraForm Global (GLBL) acquired wind energy projects in China during the quarter.

The negative operating and investing cash flows were largely funded by higher debt.