New Energy Finance - NEX - Weekly Review

Posted by Tim

June 24, 2008

Each week I provide a short review of the previous week’s performance of the WilderHill New Energy Global Innovation Index, symbol NEX. The NEX is sponsored by New Energy Finance and is tracked by the PowerShares Global Clean Energy Fund (PBD: 10.19 -0.59 -5.47%). The index consists of approximately 90 stocks from 20 countries in 7 different sectors relating to clean/renewable energy.

For the week ending on Friday, 6/20 the NEX ended with a neglibible gain of 0.1%. This was relatively a good thing since the NASDAQ was down 3.6% and the S&P500 lost 3.1%.

Solar energy was the best performing sector with a gain of 1.8%. Hydrogen and fuel cells came in as the worst sector, losing 8.1%. Biofuel and biomass was also in the losing column, down 1.7%. Here are the best and worst performing stocks from the index for the week:

NEX top gainers since 17/06/08
EnerNoc ENOC + 22.5%
Evergreeen Solar ESLR + 20.7%
Capstone Turbine CPST + 13.1%
Babcock & Brown Wind Partners Group BBW + 12.5%
Climate Exchange CLE + 11.7%

NEX top losers since 17/06/08
Medis Technologies MDTL - 45.5%
Schmack Biogas SB1 - 23.9%
Brasil Ecodiesel Industria e Comercio de Bioc ECOD3 - 18.7%
Echelon ELON - 15.3%
International Rectifier IRF - 14.1%