Lighting Science Group
The broad stock market indices all had lacklustre weeks, apparently bothered by ongoing worries about the Greek economy and a meeting of Euro-zone finance ministers scheduled for Monday. Nevertheless, the broader markets managed to outperform the clean energy and energy efficiency indices this week, with the biggest exception being the EnergyBoom Biofuel Subindex (E•B Biofuel) which ended the week up 2.48%.
It was a strong week for the broad stock markets and an even stronger week for clean tech sectors, capped off with a bonanza for shareholders of San Jose, California-based solar panel company SunPower Corporation (NASDAQ: SPWRA). SunPower and French oil multinational Total S.A. (NYSE: TOT) announced late Thursday that Total was buying 60% of SunPower for approximately $1.4 billion at $23.25 per share -- lifting the stock to close today at $21.69 per share, 34.5% higher than Thursday’s close and up 36% for the week.
I have been wary about profiling bulletin board-listed Lighting Science Group Corp. (OTC: LSCG.OB), a light-emitting diode (LED) lighting manufacturer/marketer:
- On the one hand, the company’s one-year 700 percent stock increase seems justified by its impressive 2010 revenue growth based on what the company claims are the most efficient and cheapest LED products on the market.
- On the other hand, the company’s net losses have been erratic and larger than revenues. And a bulletin board listing always saps a certain amount of confidence.
Solar power technology companies continued this week to lead the overall green indices and ETFs as well as the broad markets.
The EnergyBoom Solar Subindex (E•B Solar) increased 4.06 percent and the Guggenheim Solar ETF (TAN) gained 3.32 percent on the week, compared with the S&P 500 (+0.13 percent), the Dow Jones Industrial Average (+1.43 percent) and the NASDAQ composite ( -1.51 percent).
A new study conducted by Groom Energy and Greentech Media Research shows the LED lighting industry is set for rapid growth over the next four years as it makes its ascent to the perch of the lighting market.
EnergyBoom’s E•B Efficiency subindex had the best performance in November among Energyboom’s five sector indices and also beat all broad market indices for the month. The E•B Efficiency slipped 0.13 percent for the month, narrowly beating the best-performing broad market index, the S&P 500 Index (-0.23 percent).
EnergyBoom’s E•B Biofuel subindex decline of 0.99 percent last week was the best performance among the EnergyBoom clean sector indices. It also beat the leading green ETFs and all broad market indices except the Dax Index of 30 bluechips trading on the Frankfurt Stock Exchange, which slipped 0.24 percent.