Clean Edge Stock Indices Post Huge Losses
COMV JASO VECO ESE UQM NEW YORK (TheStreet) -- Clean Edge and Nasdaq's three benchmark clean-tech stock indices experienced large losses last week with the Nasdaq Clean Edge Green Energy Index (CELS) down 10.92%, the Nasdaq OMX Clean Edge Global Wind Energy Index (QWND) losing 15.16%, and the Nasdaq OMX Clean Edge Smart Grid Infrastructure Index (QGRD) 9.08% lower from the previous week.
The overall market also saw significant negative movement last week - the S&P 500 lost 6.39%, Nasdaq contracted 7.95%, and AMEX Oil was 8.67% lower.
CELS - down 10.92% for the week but still 8.83% higher than 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 an indication of the week's dismal performance, every single one of the 53 total component securities lost ground from the previous week's close.
CELS' best performer for the week was energy management service provider Comverge (COMV), losing 2.20%. Rounding out the top five CELS performers were solar cell manufacturer JA Solar (JASO), down 2.62%; solar and LED equipment provider Veeco Instruments (VECO), lower by 2.75%; utility network provider ESCO Technologies (ESE), falling 2.92%; and electric motor developer UQM Technologies (UQM), down 3.89%.CELS' worst performer last week was Chinese solar product manufacurer Trina Solar (TSL), declining 22.96%. Other worst performers included energy storage technology developer A123 Systems (AONE), falling 22.65%; solar cell and module maker Suntech Power (STP), losing 22.64%; solar module manufacturer Yingli Green Energy (YGE), down 20.74%; and multicrystalline solar wafer maker LDK Solar (LDK), losing 20.57%. QWND -- down 15.16% last week and 17.82% lower in the last 12 months -- includes companies that are primarily manufacturers, developers, distributors, installers, and users of energy derived from wind sources. Of QWND's 21 pure play components, all ended the week in negative territory. QWND's best pure play performer for the week was German wind turbine manufacturer REpower Systems (RPW), losing 1.02%. Other top pure play performers included wind farm owner and operator Terna Energy (TENERGY), down 3.04%; wind power producer China Longyuan Power Group (0916), falling 3.27%; wind turbine manufacturer Clipper Windpower (CWP), contracting 5.65%; and wind power equipment and service provider Japan Wind Development Company (2766), down 5.78% for the week. QWND's worst pure play performers were wind energy product and service provider Broadwind Energy (BWEN), declining 19.65%; gearbox and drive train maker Hansen Transmissions International (HSN), down 16.67%; wind turbine manufacturer Vestas Wind Systems (VWS), losing 15.00%; energy delivery technology developer American Superconductor (AMSC), declining 14.15%; and wind farm developer Greentech Energy Systems (GES), lower by 13.79%.
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