New Energy Index - NEX - Weekly Update

Posted by Tim

April 15, 2008

Once again, info is sent to me and I pass it along. If you are new the NEX is a index that of about 90 renewable energy stocks from about 20 countries. The PowerShares Global Clean Energy Fund (PBD: 13.31 +0.32 +2.46%) is the ETF that tracks the New Energy Index. Each week I review the indexes results for the past week through the last Friday.

Last week the NEX lost 4.2%, slightly worse than the NASDAQ and S&P 500. All sectors were in negative territory with the biofuels/biomass sector falling farthest, down 7.3%. The food vs. fuel debate is having a strong effect (negative) on this sector.

The best performing, least losing sector was the descriptively named ‘renewable-other’, down only 1.6%. The sector was led by geothermal producer Ormat Technologies (ORA: 32.52 +0.51 +1.59%), which gained 2.3%. I think I need to take another look at ORA!

Here are the winners and big loser of the index from last week:

NEX top gainers since 08/04/08
Power Integrations POWI + 7.0%
JA Solar Holdings JASO + 6.5%
Capstone Turbine CPST + 5.7%
Nordex NDX1 + 4.0%
Zoltek ZOLT + 4.0%

NEX top losers since 08/04/08
Energy Developments ENE - 36.3%
Aventine Renewable Energy AVR - 21.7%
Verenium VRNM - 21.4%
Power-One PWER - 21.4%
Roth & Rau R8R - 21.1%