What’s Propelling Argan Inc (NYSE:AGX) After Higher Shorts Reported?

June 17, 2018 - By Clifton Ray

The stock of Argan Inc (NYSE:AGX) registered an increase of 76.2% in short interest. AGX’s total short interest was 552,400 shares in June as published by FINRA. Its up 76.2% from 313,500 shares, reported previously. With 249,600 shares average volume, it will take short sellers 2 days to cover their AGX’s short positions. The short interest to Argan Inc’s float is 4.38%.

The stock decreased 1.53% or $0.55 during the last trading session, reaching $35.35. About 289,797 shares traded or 17.20% up from the average. Argan, Inc. (NYSE:AGX) has declined 35.92% since June 17, 2017 and is downtrending. It has underperformed by 48.49% 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 $550.35 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 9.92 P/E ratio. This segment serves independent power project owners, public utilities, power plant equipment suppliers, and global energy plant construction firms.

Another recent and important Argan, Inc. (NYSE:AGX) news was published by Businesswire.com which published an article titled: “Argan, Inc. Reports First Quarter Results” on June 11, 2018.

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