New Energy Finance - NEX - Weekly Review

Posted by Tim

May 27, 2008

Each week I review the past week’s performance of the WilderHill Global New Energy Innovation Index (NEX). The index consists of approximately 90 renewable and clean energy companies from over 20 countries. The index can be invested in through the PowerShares Global Clean Energy Fund (PBD: 25.936 +0.386 +1.51%). All returns are for the week that ended last Friday.

The NEX finished the week down 2.1%, not quite as big a drop as the S&P 500 and NASDAQ, down 3.6% and 2.8%, respectively. The only winning sector was the one with mini-hydro and geothermal companies, called “renewable-other”. The renewable-others gained 1.8%. The energy efficiency sector dropped the farthest, down 4.7% and wind energy was dubious second down 2.9%.

Here are the best and worst individual stocks from the index for the week:

NEX top gainers since 20/05/08
LDk Solar LDK + 17.9%
Evergreen Solar ESLR + 12.6%
GS Yuasa 6674 + 10.9%
Sao Martinho SMT03 + 10.4%
Brasil Ecodiesel Industria e Comercio de Bioc ECOD3 + 9.1%

NEX top losers since 20/05/08
Medis Technologies MDTL - 20.3%
Epistar 2448 - 14.7%
Sanyo Electric 6764 - 14.2%
Zhejiang Yankon Group 600261 - 13.6%
Aventine Renewable Energy Holdings AVR - 12.6%