New Energy Finance - NEX - Weekly Review

Posted by Tim

June 3, 2008

Each Tuesday (usually) I post about the previous week’s results for the WilderHill Global New Energy Innovation Index symbol: NEX. The NEX is the bogey index for the PowerShares Global Clean Energy Fund (PBD: 25.936 +0.386 +1.51%) ETF. I think PBD is the best of the clean/renewable energy ETFs.

For the week ending 5/30 NEX gained 1.3%, slotting itself right between the NASDAQ at +1.9% and the S&P500, +0.9%. Power Storage was the leading sector up 7.1%. Every stock in the sector had a positive week led by Ultralife Batteries (ULBI: 11.82 +0.11 +0.94%). The trailing sector was Solar Energy, eeking out a 0.3% gain in spite of the 64.4% gain of German PV manufacturer Ersol Solar.

Here are the winners and losers from the index for last week:

NEX top gainers since 27/05/08
ErSol Solar ES6 +64.4%
Ultralife Batteries ULBI +32.3%
Echelon ELON +19.9%
Takuma 6013 +16.0%
EnviTec Biogas ETG +15.8%

NEX top losers since 27/05/08
Schmack Biogas SB1 -14.4%
Suntech Power STP -12.5%
EnerNOC ENOC -11.6%
Gushan Environmental GU -11.1%
JA Solar JASO -11.1%