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 consists of about 90 stocks from 20 countries in seven sectors and is the bogey for the PowerShares Global Clean Energy Fund (PBD). These results are for the week ending on Friday.

NEX finished the week down 1.5%, bracketed by the NASDAQ, off 0.9% and the S&P 500, losing 2.0%. The renewable energy world tracked by the NEX had a pretty wide spread in sector performance. Solar energy was top dog, gaining 4.2%, led by Chinese solar PV manufacturer, LDK Solar. At the other end of the sector race was wind energy, losing 5.2%. The windies were led downward by Chinese wind turbine manufacturer Goldwind.

The market’s have been tough recently on the renewable energy space. Falling energy (carbon based) prices seem to be holding the sector down even as the market rallies. The international nature of NEX is also definitely a factor when comparing performance to the U.S. stock markets.

Here are the winners and losers from the NEX for the week:

NEX top gainers since 12 Aug 2008
LDK Solar LDK + 26.3%
International Rectifier IRF + 17.3%
Sunpower SPWR + 16.9%
Evergreen Solar ESLR + 12.8%
Suntech Power Holdings STP + 11.2%

NEX top losers since 12 Aug 2008
Comverge COMV - 33.1%
Schmack Biogas SB1 - 18.7%
Canadian Hydro Developers KHD - 15.8%
Xingjiang Goldwind Science & Technology 2202 - 12.6%
Aventine Renewable Energy Holdings AVR

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