Argan Inc (NYSE:AGX) Shorts Decreased by 2.43% After Short Covering

March 17, 2018 - By Maria Brooks

 Argan Inc (NYSE:AGX) Shorts Decreased by 2.43% After Short Covering

The stock of Argan Inc (NYSE:AGX) registered a decrease of 2.43% in short interest. AGX’s total short interest was 569,800 shares in March as published by FINRA. Its down 2.43% from 584,000 shares, reported previously. With 222,400 shares average volume, it will take short sellers 3 days to cover their AGX’s short positions. The short interest to Argan Inc’s float is 4.52%.

The stock increased 0.62% or $0.25 during the last trading session, reaching $40.75. About 191,776 shares traded. Argan, Inc. (NYSE:AGX) has risen 101.20% since March 17, 2017 and is uptrending. It has outperformed by 84.50% the S&P500.

Argan, Inc., through its subsidiaries, provides engineering, procurement, construction, commissioning, activities management, maintenance, development, technical, and consulting services to the power generation and renewable energy markets. The company has market cap of $633.61 million. The companyÂ’s Power Industry Services segment offers engineering, procurement, and construction contracting services to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, start-up, and operation services for approximately 76 facilities with approximately 14,500 megawatts of power-generating capacity. It has a 7.58 P/E ratio. This segment serves independent power project owners, public utilities, power plant equipment suppliers, and global energy plant construction firms.

Argan, Inc. (NYSE:AGX) Ratings Coverage

Among 3 analysts covering Argan (NYSE:AGX), 0 have Buy rating, 1 Sell and 2 Hold. Therefore 0 are positive. Argan had 4 analyst reports since October 16, 2015 according to SRatingsIntel. Wm Smith initiated Argan, Inc. (NYSE:AGX) rating on Friday, October 16. Wm Smith has “Not Rated” rating and $45 target. The stock of Argan, Inc. (NYSE:AGX) earned “Mkt Perform” rating by Avondale on Thursday, December 8. Lake Street downgraded Argan, Inc. (NYSE:AGX) on Thursday, December 7 to “Hold” rating. The firm has “Buy” rating by Lake Street given on Thursday, June 9.

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