Join        Login             Stock Quote

New Energy Finance : Weekly Review

 February 25, 2009 01:55 PM

(By Tim - iStockAnalyst Writer)

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: 9.702 -0.478 -4.70%). For reference, the NEX has a 52 week high of 436.21 and closed 2008 at 177.99.

For the week ending at market close on Monday the NEX dropped 11.3%, finishing at 148.42. The NASDAQ and S&P 500 were off big for the week declining 9.6% and 10.1% for the same period. All sectors in the index were in negative territory for the week.

[Related -Northrop Grumman Corporation: How Defense Budget Will Fare In 2014?]

The solar energy sector had the dubious distinction of holding the 5 worst performing stocks for the week in the index. The sector has a whole dropped 12.1%. Yet, solar was not the worst performing sector; ‘energy conversion' takes that honor, shedding 18.8% of its value. U.S. based Fuel Energy dropped 26.4% and Capstone Turbine fell 25.4% to drag down the sector.

The best any sector could do was ‘renewable-other' which fell only 5.8%. This sector consists mainly of geothermal and mini-hydro energy producers.

Here are the best and worst performing stocks from the NEX for the week:

NEX top gainers since 17/02/09
Energy Development EDC + 11.1%
Xinjiang Goldwind 2202 + 10.7%
Iberdrola Renovables IBR + 5.0%
EnerNOC ENOC + 3.9%
Babcock & Brown Wind BBW + 3.4%

[Related -Lockheed Martin Corporation (NYSE:LMT): How A Small Budget Deal Impacts Defense Contractors?]

NEX top losers since 17/02/09
LDk Solar LDK - 48.4%
Renewable Energy Corp REC - 35.9%
Yingli Green Energy YGE - 35.2%
Suntech Power STP - 29.8%
Evergreen Solar ESLR - 28.3%

iOnTheMarket Premium


Comments Closed

rss feed

Latest Stories

article imageThe Sixty Percent Alibaba Play No One Is Talking About

It's official: Chinese e-commerce juggernaut Alibaba (NYSE: BABA) goes down as the biggest U.S. IPO in read on...

article imageThe Finer Points Of Hedging… Or Not

Barry Ritholtz asks the right question—Why hedge?–in the wake of last week’s announcement that California read on...

article imageBulls Leverage Hopeful News to Launch a Tepid Breakout Attempt

Stocks were able to leverage some optimistic news and dovish words from the Fed to take another stab at an read on...

article imageG-20 Minus One Country Plus 900 Bullet Points Equal 2 Percentage Points of Extra Growth?

For investors, the G-20’s super-secret plan to make the world grow faster is more a sideshow than a reason read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.