New Energy Finance - NEX - Weekly Review

Posted by Tim

September 2, 2008

Each week I provide a review of the previous week’s performance of the WilderHill New Energy Global Innovation Index, symbol NEX. This information is provided by New Energy Finance. The NEX consists of about 90 stocks from 20 countries in seven sectors and is the bogey for the PowerShares Global Clean Energy Fund (PBD: 13.31 +0.32 +2.46%). These results are for the week ending on Friday.

The NEX lost 5.3% for the week, showing a larger decline than either the NASDAQ, off 3.9%, or the S&P 500, down 2.9%. AMEX Oil, pinch hitting for traditional energy, gained 0.1%. All 7 sectors of the NEX were in negative territory for the week from a 1.0% loss for hydrogen and fuel cells to a down week of 7.7% for the energy efficiency sector. The two biggest sectors, solar and wind, lost 7% and 4.2% respectively.

Of, course there were some individual winners for the week, and here are the top 5 followed by the biggest losers from the NEX:

NEX top gainers since 26 Aug 2008
Medis Technologies MDTL + 23.9%
PV Crystalox WI PVCS + 10.4%
Iberdrola Renovable IBR + 6.3%
Schmack Biogas SB1 + 4.8%
Aventine Renewable Energy Holding AVR + 4.5%

NEX top losers since 26 Aug 2008
Epistar 2448 - 24.6%
Evergreen Solar ESLR - 19.7%
American Superconductor AMSC - 18.3%
Yingli Green Energy Holding YGE - 16.2%
Hansen Transmission HSN - 15.9%