New Energy Finance – NEX – Weekly Review
Each week I recap the results of the WilderHill New Energy Global Innovation Index, symbol NEX, and published by New Energy Finance Ltd. The index consists of approximately 90 stocks from 22 countries. The NEX is the tracking index for the PowerShares Global Clean Energy Portfolio ETF (PBD: 15.0704 +0.1104 +0.74%). For reference, the NEX has a 52 week high of 461.56.
I had not received updates from New Energy Finance for a couple of weeks over the holidays. For the record the NEX finished the year at 177.99 down 61% for the year of 2008. The NEX is rebalanced each quarter and stocks are added and dropped. You can see what changed here.
For the week ending on Monday, Jan. 5 the NEX gained 7.7% to 191.72. The NASDAQ and S&P 500 gained 3.2% and 2.7% for the same period. The ‘energy conversion’ sector was the top sector, gaining 12.9%. Solar energy was close behind, up 12.6% for the week. The bottom sector was power storage which was up a measly 0.3%.
Here are the top winners and losers from the NEX for the week:
NEX top gainers since 31 Dec 2008
GT Solar International SOLR + 38.4%
Capstone Turbine CPST + 29.8%
Ballard Power Systems BLD + 24.6%
Gushan Environmental GU + 24.5%
SunPower SPWRA + 22.0%
NEX top losers since 31 Dec 2008
EnviTec Biogas ETG - 6.4%
Echelon ELON - 5.8%
GS Yuasa 6674 – 3.9%
Energy Developments ENE – 3.0%
Babcock & Brown Wind BBW - 2.8%
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