New Energy Finance - NEX - Weekly Review

Each week 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). These results are for the week ending on Friday. PBD is my choice of the renewable energy ETFs due to it global reach and lack of asset concentration into a few stocks.

The NEX lost 4.4% for the week, double the 2.2% of the NASDAQ and S&P 500. AMEX Oil was down 5.1%. All of the 7 sectors in the index finished in negative territory, with hydrogen and fuel cells falling the farthest off 4.1%. It was a virtual tie for the best performing sectors, with solar energy down 0.4% and biofuels and biomass off 0.5%. The worst performing stock came from the biofuels sector, with cellulosic ethanol hopeful Verenium (VRNM) losing 23.3%. Microcap VRNM is only a 0.32% weighting in the index. I point this out for those lost souls who believe cellulosic ethanol will soon be a viable fuel source.

Here are the top and bottom performers from the NEX for the week:

NEX top gainers since 01/07/08
EnviTec Biogas ETG +26.3%
Takuma 6013 +12.3%
Zhejiang Yankon 600261 +11.2%
Epistar 2448 +11.1%
Cosan CSAN3 +7.5%

NEX top losers since 01/07/08
Verenium VRNM -23.3%
Capstone Turbine CPST -18.6%
PV Crystalox PVCS -15.8%
Plug Power PLUG -15.7%
Solon SOO1

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

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

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