Weekly Review Of WilderHill 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. All results are for the 5 trading days ending at the close on Monday, Dec 15.

The NEX finished the 5 day period down 0.1% at 164.71. The index significantly out performed the NASDAQ (^IXIC) and S&P 500 (^GSPC) which fell 4% and 4.5%, respectively.

The two biggest sectors in the NEX diverged for the week with the wind sector coming in as the top sector, gaining 5.7%. Belgian gearbox manufacturer led the wind stocks with a 20.2% gain. The solar sector lost 9.7% of its value as most of the components lost ground. German solar cell manufacturer Q-Cells after they announced some customers were delaying their planned purchases.

Hydrogen and fuel cells was the worst performing sector, off 12.2%. In my opinion, fuel cell companies just have not yet found a way to profitably manufacture and sell their products. It seems like U.S. based Fuel Cell Energy has been losing money as long as I can remember.

Here are the best and worst stocks from the NEX for the week:

NEX top gainers since 09 Dec 2008
Meidensha 6508 + 27.0%
Hansen Transmission (HSN) + 20.2%
Byd Co 1211 + 13.7%
Babcock & Brown Wind Partners Group (BBW) + 13.3%
Acciona (ANA) + 9.5%

NEX top losers since 09 Dec 2008
Q-Cells (QCE) - 34.4%
Solar Millenium S2M - 23.1%
Ener1 (HEV) - 22.6%
Aventine Renewable Energy Holdings (AVR) - 20.9%
Ballard Power Systems (BLD) - 18.2%

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