New Energy Finance - NEX - Week in Review
If this is Tuesday, I must be writing about renewable energy. Time for my weekly update on last week’s results for the WilderHill New Energy Global Innovation Index of renewable energy companies-NEX. For investors, the NEX is tracked by the ETF: PowerShares Global Clean Energy Fund (PBD: 25.85 -0.288 -1.10%). The NEX offers a broad, global snapshot of renewable and clean energy companies.
For last week the NEX gained 2%, outgaining the NASDAQ at a +1% and the S&P500 which was off -0.3%. Solar energy came in as the top sector for the index, gaining 4%. Five of the 7 sectors in the index were positive. The only two negatives were renewable-other (mini-hydro and geothermal) and hydrogen/fuel cells losing 0.9% and 0.3%, respectively.
Here are the winners and losers from the index for last week:
NEX top gainers since 06/05/08
Energy Conversion Devices ENER + 54.7%
Capstone Turbine CPST + 16.8%
Centrotec Sustainable CEV + 14.0%
American Superconductor AMSC + 13.2%
Brasil Ecodiesel Industria e Comercio de Bioc ECOD3 + 12.2%
NEX top losers since 06/05/08
Aventine Renewable Energy Holdings AVR - 12.2%
Cree CREE - 7.0%
Conergy CGY - 6.5%
Byd Co 1211 - 6.4%
Verenium VRNM - 6.0%
Note: I currently do not have a position in any security listed.
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