PPVX again below 1,000 points
Post date: 07/10/2018 - 21:19
After losses of 3.6 percent during the past week, the PHOTON Photovoltaic Stock Index PPVX slipped below the 1,000 point mark for the second time this year and reached 965 points on Friday. Its reference value NYSE Arca Oil gained 3.4 percent. With minus 19.3 percent since the beginning of the year, the PPVX is currently down 42.4 percentage points on the oil share index (plus 22.9 percent). The lead of the solar shares in a long-term comparison since 2003 is shrinking more and more, with a plus of 243.2 percent the PPVX is only 19.8 percentage points ahead of the Arca Oil (plus 223.4 percent).
After the exit of Taiwanese solar cell manufacturer Gintech Energy Corp. (the company has merged with Neo Solar Power Corp.) the Thai solar project developer Thai Solar Energy Company Ltd. (TSE) moved into the PPVX. The company was previously included in the index from November 2016 to May 2018. The renewed inclusion took place at a price of 3.18 Thai Baht (THB), corresponding to a market value of around $184 million. The share is thus weighted with two out of six possible points in the index.
The three PPVX stocks with the highest price growth since the beginning of the year are currently Solaria Energía (160.0 percent), SunRun (111.5 percent) and Vivint Solar (21.0 percent). The highest price losses since January were suffered by Panda Green Energy (65.3 percent), Meyer Burger (63.2 percent) and GCL-Poly (62.9 percent). In the past week, only three PPVX stocks recorded price gains, most notably Solaria Energía (14.0 percent), West Holdings (3.1 percent) and Daqo New Energy (1.0 percent). The highest price losses were suffered by Azure Power (24.1 percent), Neo Solar (12.4 percent) and BCPG (11.9 percent). Encavis AG’s weighting factor for the index calculation was reduced from 4 to 3 after the company’s market value had been below the limit of €800 million ($921 million) for four weighting points for several weeks.