Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>The WTR Sustainable Index was down 1.9% W/W versus the S&amp;P 500 Index (up 0.9%), the Russell 2000 Index (up 1.9%) and the Nasdaq Index (up 0.3%).</li><li>Energy Technology (13.2% of the index) was down 0.9%, while Industrial Climate and Ag Technology (48.4% of the index) was up 1.1%, ClimateTech Mining was down 5.8%, and Advanced Transportation Solutions (20.2% of index) was down 5.7%.</li><li>Top 10 Performers: LTBR, AZRE, GEVO, NXH, HTOO, NGPHF, SMR, NRGV, PEGY, FTCI</li></ul>

The WTR Sustainable Index was down 1.9% W/W versus the S&amp;P 500 Index (up 0.9%), the Russell 2000 Index (up 1.9%) and the Nasdaq Index (up 0.3%).Energy Technology (13.2% of the index) was down 0.9%, while Industrial Climate and Ag Technology (48.4% of the index) was up 1.1%, ClimateTech Mining was down 5.8%, and Advanced Transportation Solutions (20.2% of index) was down 5.7%.Top 10 Performers: LTBR, AZRE, GEVO, NXH, HTOO, NGPHF, SMR, NRGV, PEGY, FTCI

Sustainable Investing Surveyor - October 21, 2024

<ul><li>The WTR Sustainable Index was up 4.9% W/W versus the S&amp;P 500 Index (up 4.0%), the Russell 2000 Index (up 4.4%) and the Nasdaq Index (up 5.9%).</li><li>Energy Technology (13.7% of the index) was up 6.0%, while Industrial Climate and Ag Technology (47.4% of the index) was up 6.5%, ClimateTech Mining was up 3.5%, and Advanced Transportation Solutions (19.7% of index) was up 1.6%.</li><li style="text-align: left;">Top 10 Performers: GP, FTCI, GCEH, GEVO, SPI, SUNW, INVZ, SMR, GRB, GTEC</li></ul>

The WTR Sustainable Index was up 4.9% W/W versus the S&amp;P 500 Index (up 4.0%), the Russell 2000 Index (up 4.4%) and the Nasdaq Index (up 5.9%).Energy Technology (13.7% of the index) was up 6.0%, while Industrial Climate and Ag Technology (47.4% of the index) was up 6.5%, ClimateTech Mining was up 3.5%, and Advanced Transportation Solutions (19.7% of index) was up 1.6%.Top 10 Performers: GP, FTCI, GCEH, GEVO, SPI, SUNW, INVZ, SMR, GRB, GTEC

Sustainable Investing Surveyor Focus on LSB Industries, Inc.

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

Sprott Physical Uranium Trust / Event-Driven

<ul>
<li>Solactive has announced the constituent changes for the Global Uranium &amp; Nuclear Components Index with implementation at the close on 31 July.</li>
<li>
<a href="https://www.smartkarma.com/entities/oklo-inc" target="_blank" data-smartkarma-citation="entities:38840" rel="noopener">Oklo (OKLO US)</a> and <a href="https://www.smartkarma.com/entities/western-uranium-vanadium-corp" target="_blank" data-smartkarma-citation="entities:43774" rel="noopener">Western Uranium &amp; Vanadium (WUC CN)</a> will be added to the index. Estimated one-way turnover is 7.9% resulting in a round-trip trade of US$486m.</li>
<li>There are only 4 trading days to implementation of the changes and we'd watch out for big moves on stocks that have more than 2x ADV to trade.</li>
</ul>


Solactive has announced the constituent changes for the Global Uranium &amp; Nuclear Components Index with implementation at the close on 31 July.

Oklo (OKLO US) and Western Uranium &amp; Vanadium (WUC CN) will be added to the index. Estimated one-way turnover is 7.9% resulting in a round-trip trade of US$486m.
There are only 4 trading days to implementation of the changes and we'd watch out for big moves on stocks that have more than 2x ADV to trade.


Solactive Global Uranium & Nuclear Components Index Rebalance: Two Adds & US$500m Trade

<ul><li>The WTR Sustainable Index was down 0.8% W/W versus the S&amp;P 500 Index (up 0.6%), the Russell 2000 Index (up 0.8%), and the Nasdaq Index (up 0.2%).</li><li>Energy Technology (14.5% of the index) was down by 3.0%, while Industrial Climate and Ag Technology (60.3% of the index) was up by 0.2%, ClimateTech Mining was down 5.3%, andAdvanced Transportation Solutions (19.6% of index) was down 2.6%.</li><li>Top 10 Performers: NRM, VIHD, OESX, FNI, DCFC, PNPN, SMR, LICY, ASYS, PSIX</li></ul>

The WTR Sustainable Index was down 0.8% W/W versus the S&amp;P 500 Index (up 0.6%), the Russell 2000 Index (up 0.8%), and the Nasdaq Index (up 0.2%).Energy Technology (14.5% of the index) was down by 3.0%, while Industrial Climate and Ag Technology (60.3% of the index) was up by 0.2%, ClimateTech Mining was down 5.3%, andAdvanced Transportation Solutions (19.6% of index) was down 2.6%.Top 10 Performers: NRM, VIHD, OESX, FNI, DCFC, PNPN, SMR, LICY, ASYS, PSIX

Sustainable Investing Surveyor - Focus on Spruce Power Holding Corporation (SPRU)

<ul><li>The WTR Sustainable Index was down by 1.9% W/W versus the S&amp;P 500 Index (down 0.1%), the Russell 2000 Index (down 2.1%), and the Nasdaq Index (down 1.2%).</li><li>Energy Technology (12.5% of the index) was down by 6.2%, while Industrial Climate and Ag Technology (55.5% of the index) was down by 1.2%, ClimateTech Mining was down 3.7% and Advanced Transportation Solutions (26% of index) was down 1.8%.</li><li>Top 10 Performers: LICY, ADES, ARVL, SMR, EH, EGT, RIDE, FF, CVW, LIS</li></ul>

The WTR Sustainable Index was down by 1.9% W/W versus the S&amp;P 500 Index (down 0.1%), the Russell 2000 Index (down 2.1%), and the Nasdaq Index (down 1.2%).Energy Technology (12.5% of the index) was down by 6.2%, while Industrial Climate and Ag Technology (55.5% of the index) was down by 1.2%, ClimateTech Mining was down 3.7% and Advanced Transportation Solutions (26% of index) was down 1.8%.Top 10 Performers: LICY, ADES, ARVL, SMR, EH, EGT, RIDE, FF, CVW, LIS

Weekly Sustainable Investing Surveyor - Week Ended March 15, 2024

United States

NuScale Power Corporation operates as a small modular reactor (SMR) technology company. The Company provides scalable advanced nuclear technology for the production of electricity, heat, and clean water. NuScale Power serves customers worldwide.

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NuScale Power (SMR US)

Sustainable Investing Surveyor - October 21, 2024

The WTR Sustainable Index was down 1.9% W/W versus the S&P 500 Index (up 0.9%), the Russell 2000 Index (up 1.9%) and the Nasdaq Index (up 0.3%).

Water Tower Research

Sustainable Investing Surveyor Focus on LSB Industries, Inc.

The WTR Sustainable Index was up 4.9% W/W versus the S&P 500 Index (up 4.0%), the Russell 2000 Index (up 4.4%) and the Nasdaq Index (up 5.9%).

Water Tower Research

Solactive Global Uranium & Nuclear Components Index Rebalance: Two Adds & US$500m Trade

The changes for the Global Uranium & Nuclear Components Index will be implemented at the close tomorrow. There is a fair bit to trade on some...

Brian Freitas

Sustainable Investing Surveyor - Focus on Spruce Power Holding Corporation (SPRU)

The WTR Sustainable Index was down 0.8% W/W versus the S&P 500 Index (up 0.6%), the Russell 2000 Index (up 0.8%), and the Nasdaq Index (up 0.2%).

Water Tower Research

Weekly Sustainable Investing Surveyor - Week Ended March 15, 2024

The WTR Sustainable Index was down by 1.9% W/W versus the S&P 500 Index (down 0.1%), the Russell 2000 Index (down 2.1%), and the Nasdaq Index (down...

Water Tower Research

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