Weekly Review Of The New Energy Global Innovation Index

Each week I recap the results of the WilderHill New Energy Global Innovation Index, symbol NEX, and published by New Energy Finance Ltd. The index consists of approximately 90 stocks from 22 countries. The NEX is the tracking index for the PowerShares Global Clean Energy Portfolio ETF (PBD). For reference, the NEX has a 52 week high of 461.56.

For the week that ended Monday, 11/24, the NEX fell 6.2% to 150.49. The low for the week was 133 on Thursday. The NASDAQ (^IXIC) declined just 0.7% and the S&P 500 (^GSPC) gained 0.1% for the time period. AMEX Oil, carrying the proxy for conventional energy, gained 4.0%.

Hydrogen and fuel cells was the only postive sector in the NEX, gaining 5.4%. The sector with the biggest loss was energy storage, shedding 9.6%. Solar energy and ‘renewable-other’ (think geothermal and water) both fell 9.1%. Loss leader for the week, Suntech Power Holdings forecast a zero gross margin for the near future. Biofuels and biomass fell 6.3%.

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

NEX top gainers since 18 Nov 08
Plug Power PLUG + 28.0%
JA Solar Holdings JASO + 18.7%
Johnson Controls JCI + 17.9%
Sao Martinho SMTO3 + 16.4%
American Superconductor AMSC + 14.0%

NEX top losers since 18 Nov 08
Suntech Power Holdings STP - 41.3%
Aventine Renewable Energy AVR - 39.8%
Theolia TEO - 37.2%
Verenium VRNM - 33.5%
Evergreen Solar ESLR - 25.2%

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