Clean Tech Indices: Rousing Start to '10
Clean Edge and Nasdaq's three benchmark clean-tech stock indexes got 2010 off to a good start with the Nasdaq Clean Edge Green Energy Index (CELS) up 4.53%, the Nasdaq OMX Clean Edge Global Wind Energy Index (QWND) gaining 3.37%, and the Nasdaq OMX Clean Edge Smart Grid Infrastructure Index (QGRD) climbing 4.18%.
The overall market also saw gains the first week of the year -- the S&P 500 added 2.68%; Nasdaq was up 2.12%; and the Amex Oil ended the week 4.49% higher.
CELS -- up 4.53% for the week and up 39.13% from a year ago -- tracks U.S.-listed clean-energy companies and is divided into four categories: advanced materials; energy intelligence; energy storage and conversion; and renewable electricity generation and renewable fuels.
In the advanced materials sector, four of the five component companies were in positive territory. Energy intelligence saw 15 of its 20 components gain ground. Energy storage and conversion had all 10 components gaining. For renewable electricity and fuels, 13 components were up and two lost ground.CELS' best performer for the week was Chinese solar cell maker Solarfun Power Holdings (SOLF), gaining 32.11%. Rounding out the top five CELS performers were fuel cell developer Ballard Power Systems (BLDP), up 22.75%; solar wafer manufacturer ReneSola (SOL), rising 21.01%; thin-film solar developer Energy Conversion Devices (ECD), gaining 18.73%; and solar module manufacturer Evergreen Solar (ESLR), up 18.54%. CELS' worst performer last week was wind energy product and service provider Broadwind Energy (BWEN), declining 9.27%. Other worst performers included electronic materials maker Rubicon Technology (RBCN), falling 4.73%; semiconductor developer IXYS (IXYS), losing 4.59%; geothermal developer Ormat Technologies (ORA), down 2.80%; and electronic power management company O2Micro (OIM), losing 1.91%.
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