Alternative energy stocks closed generally down as the Dow got hit for .37% on more economic doom and gloom from the pundits; this despite oil taking a huge hit as the day wound to a close finishing at $120.81. The price of oil actually dipped below $120 for just the briefest of moments before scratching and clawing its way back over to end the day. Is the bubble over? Time will tell but we American’s are the ones who have turned the tide. We are driving less until we can get our oil dependent, gas guzzling vehicles switched over to CNG, uber-efficient hybrids, plug-ins, and fuel cell cars, trucks and buses. And yes, a car that gets 25 mpg should be considered a gas guzzler and will be generally thought of in those terms in the years to come.
The fact that Congress adjourned without voting on the investment tax credit renewal bill further put an unhappy face on the market.
GEOTHERMAL STOCKS
Geothermal stocks managed to break even today with advancers matching decliners one for one. .
Sierra Geothermal Power Corp (CDNX: SRA.V) bounced back again today closing up 5.19% to $.405. The other gainers, were nominal and just enough to keep them out of the red.
On the down side, Essential Innovations Technology Corp (OTCBB: ESIV) dropped a third of its value to close at $.02 followed by Raser Technologies, Inc (NYSE/Arca: RZ) which continued its downward slide losing another 4.28% to close at $9.05. That’s down from $11.70 on July 22nd and $18.11 on December 26th.
WIND ENERGY STOCKS
Wind energy sector had broad losses today as decliners led advancers 12 to 3.
Mass Megawatts Wind Power Inc. (OTCBB: MMGW) opened up then held on till the close posting a more than respectable 16.54% gain to $1.55 on light volume. Their announcement at the open that they were on time on a contract that represents record revenues when completed in this quarter may account for today’s performance.
Wind Energy America, Inc (OTCBB: WNEA) also turned in a respectable showing by closing up 3.17% at $.65.
Broadwind Energy Inc (OTCBB: BWEN) led all wind energy stocks to the downside losing 6.33% to close at $18.50.
Another stock leading on the downside is Constellation Energy Group, Inc. (NYSE: CEG). It got hit again today closing down another 5.83% to finish the day at $74.30. The stock was at $90.42 on June 2nd.
BIOFUEL STOCKS
The Biofuel sector also got hit hard as decliners outdistanced advancers by 11 to 3. .
While a couple of smaller stocks managed to close on the offer instead of the bid, reflecting gains, they really are simply trading flat. On the other hand, Pacific Ethanol did manage to eek out a 1.05% gain to close at $1.93. That’s up from it’s recent low of $1.45 back on June 2nd but still a long way from the $8.82 the stock touched on January 3rd.
Nova Biosource Fuels (Amex: NBF) was one of the top losers today dropping 7.34% to close at $.38.
Gushan Environmental Energy Limited (NYSE: GU) opened lower and struggled all day finishing down 3.96% at $11.88.
SOLAR ENERGY STOCKS
The Solar energy stocks had a pretty dark day today as well as decliners pummeled advancers 14 to 2.
Evolution Solar Corp (Pink Sheets: EVSO) managed to buck the trend closing up 5.71 at $1.85 on respectable volume.
Applied Materials (Nasdaq: AMAT) also deserves a mention as the only other solar gainer as it finished the day up 1.94% at $17.87
Ascent Solar Technologies Inc (Nasdaq: ASTI) was a leading loser ending the day down 5.96% at $8.37, as was Energy Conversion Devices, Inc (Nasdaq: ENER) which took a 5.50% hit to close at $64.65.
LITHIUM-ION STOCKS
Lithium-ion stocks also experienced almost across the board losses as 14 issued declined and only 2 managed to move up a little.
Ford Motor Company (NYSE: F) somehow managed to open up and climb a little more throughout the day winding up with a 3.44% gain at $4.81. Enova (Amex: ENA) was the other stock that managed to hold on to the green as it closed up 0.6% at $3.2291 on very light volume.
Three issues saw their stock take double digit hits today. Altair Nanotechnologies Inc (Nasdaq: ALTI) stock led the field losing 13.88% to close at $2.42 on heavier than usual volume.
Hybrid Technologies (OTCBB: HYBR) also got hit hard as sharholders saw their holdings in the company diminish by 13.85%. It appears that a big seller came into the stock mid day spiking the volume and dropping the stock to $2.60. Once out of the way, the stock climbed its way back up to finish at $2.80
The other double digit loser was Ener1 Inc (Amex: HEV) which dropped 11.79% to close at $6.51 on lighter than normal volume.
FUEL CELL STOCKS
Fuel Cell stocks also had a difficult day as decliners led advancers 9 to 5.
UQM Technologies Inc (Amex: UQM) managed to eek out a win closing up .41% at $2.47. Three penny stocks, SYMW, VSPC and ARGY also showed gains but those were more reflections of closing at the offer rather than an actual reflection of gain.
FuelCell Energy, Inc. (Nasdaq: FCEL) was one of the leading losers dropping 7.81% to $7.67 followed by Mechanical Technology Inc (Nasdaq: MKTY) was another of the big losers as their stock fell 6.78% to $3.71.
NUCLEAR ENERGY STOCKS
The nuclear energy sector was hit by an abundance of sellers today as decliners overwhelmed advancers 10 to 2.
Southern Company (NYSE: SO) enjoyed support for all but a few minutes in early trading and managed to post a 2.05% gain to close at $35.30 while Uranium Enmergy Corp (Ames: UEC) finished the day up 2.82% at $2.19 on light volume.
Thorium Power had huge volume again today as it gave back all of Friday’s gains closing down 12.5% at $.2450.
Urex Energy Corp (OTCBB: UREX) also enjoyed the day, even considering light volume as the stock closed up 20% at $.06.
Wave Uranium continued to collapse under heavy selling as it lost another 33.33% to finish well into the sub-penny category at $.006. It’s unclear what triggered this sell-off.
