New Energy Finance - NEX - Week in Review

It is amazing how fast Tuesdays come around! Each week on Tuesday I provide a review of the previous week’s performance of the WilderHill New Energy Global Innovation Index, symbol NEX. This information is provided by New Energy Finance. The NEX is the bogey for the PowerShares Global Clean Energy Fund (PBD).

First, a quote from the news release that I find very appropriate:

The clean energy sector continues to sail on turbulent seas, blown along by the apparently inexorable rise in fossil fuel energy prices but rocked from side to side by changes in the investor mood.

It was a very tough week for the NEX, losing 5.3% in value. The NASDAQ and the S&P500 were down 3.9% and 2.9%. Amex Oil gained 0.1%. The “best” performing sector was hydrogen and fuels cells which managed to only decrease by 1%. Unlucky “7’s” for the worst performing sectors: Energy efficiency down 7.7%, power storage off 7.3% and solar fell 7%.

Here are the winners and losers for individual components of the index for last week:

NEX top gainers since 24/06/08
Medis Technologies MDTL + 23.9%
PV Crystalox PVCS + 10.4%
Iberdrola Renovables IBR + 6.3%
Schmack Biogas SB1 + 4.8%
Aventine Renewable Energy Holdings AVR + 4.5%

NEX top losers since 24/06/08
Epistar 2448 - 24.6%
Evergreen Solar ESLR - 19.7%
American Superconductor AMSC - 18.3%
Yingli Green Energy Holding YGE - 16.2%
Hansen Transmissions HSN - 15.9%

Note: I do not have a position in any security listed.

Posted in Categories: Contributor, External Research, Stocks, USA.

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