Clean Edge Indices Gain

The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage. The opinions expressed are those of the author and do not represent the views of TheStreet or its management.

NEW YORK ( TheStreet) -- Clean Edge and Nasdaq's three benchmark clean-tech stock indices saw another week of mild positive movement, as the Nasdaq Clean Edge Green Energy Index ( CELS) was up 1.76%, the Nasdaq OMX Clean Edge Global Wind Energy Index ( QWND) higher by 0.80% and the Nasdaq OMX Clean Edge Smart Grid Infrastructure Index ( QGRD) up 1.87% last week from the one before.

The overall market also moved higher -- the S&P 500 gained 1.04% and the Nasdaq was up 0.87% -- while AMEX Oil grew 4.38% from the previous week.

CELS -- up 1.76% for the week and 20.22% 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. Of the 50 total component securities, 32 experienced gains and 18 lost ground.

CELS' best performer for the week was China-based PV product maker SunTech Power (STP), gaining 20.20%. Rounding out the top five CELS performers were electronic materials provider Rubicon Technology (RBCN), up 17.61%; solar cell and module maker SunPower (SPWRA), higher by 12.47%; power management device maker O2Micro International (OIIM), up 11.92%; and Chinese solar manufacturer LDK Solar (LDK), 11.84% higher for the week.

CELS' worst performer last week was wind energy product and service provider Broadwind Energy (BWEN), declining 14.88%. Other worst performers included smart meter maker Itron (ITRI), losing 8.96%; demand management firm EnerNOC (ENOC), down 8.15%; LED and solar manufacturing equipment provider Veeco Instruments (VECO), retreating 6.38%; and network infrastructure product maker Echelon Corporation (ELON), 5.97% lower for the week.

QWND -- 0.80% higher last week and 22.79% 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 18 pure-play components, seven saw gains, 10 experienced losses, and one was unchanged for the week.

QWND's best pure-play performer for the week was wind turbine manufacturer Nordex (NDX1), up 6.86%. Other top pure-play performers included wind farm owner and operator China Longyuan Power Group (0916), gaining 6.28%; wind turbine gear transmission provider China High Speed Transmission Equipment Group (0658), rising 6.18%; renewable energy developer EDF Energies Nouvelles (EEN), up 4.77%; and renewable energy project developer Gamesa Corporacion Tecnologica (GAM), up 1.76% for the week.

Of QWND's worst pure-play performers, wind power project owner and operator Japan Wind Development Company (2766) lost 11.48%; wind turbine maker REpower Systems (RPW) was down 4.75%; wind turbine gearbox maker Hansen Transmission International (HSN) lost 3.44%; renewable energy project developer Iberdrola Renovables (IBR) declined 2.84%; and wind turbine maker Vestas Wind Systems (VWS) fell 2.15% from the previous week.

QGRD -- 1.87% higher from the previous week and 16.82% higher than a year ago -- is composed of companies that are primarily involved in the electric grid; electric meters, devices, and networks; energy storage and management; and enabling software used by the smart grid and electric infrastructure sector. Of 22 pure play components, 12 experienced positive movement, nine saw losses, and one was unchanged for the week.

QGRD's best pure-play performer was solar inverter maker SMA Solar Technology (S92), up 9.66% for the week. Rounding out the top five pure-play performers were smart grid service provider PowerSecure (POWR), gaining 7.08%; substation equipment provider Jinpan International (JST), rising 5.80%; utility specialty service provider Pike Electric (PIKE), 5.72% higher; and energy storage technology developer NGK Insulators (53330), higher by 5.39%.

QGRD's worst performers included Itron, losing 8.96%; EnerNOC, down 8.15%; Echelon Corporation, down 5.97%; demand energy management service provider Comverge (COMV), lower by 3.42%; and Spanish transmission grid owner and operator Red Electrica (REE), falling 1.66%.

This information is not intended to be used as a guide to investing, and the authors make no guarantees that any investments based on the information contained herein will benefit you in specific applications, owing to the risk that is involved in investing of almost any kind. For more on Clean Edge's stock indexes - including methodology, components, historical performance, financial products and licensing information, please visit www.cleanedge.com/ceindex.

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.

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