Argan (AGX) was Initiated by Lake Street to “Buy” and the brokerage firm has set the Price Target at $56. Lake Street advised their investors in a research report released on Jun 9, 2016.
Argan opened for trading at $34.05 and hit $34.56 on the upside on Tuesday, eventually ending the session at $34.31, with a gain of 0.62% or 0.21 points. The heightened volatility saw the trading volume jump to 91,870 shares. Company has a market cap of $509 M.
In a different news, on Jan 11, 2016, David Hibbert Watson (CFO) purchased 350 shares at $29.18 per share price. According to the SEC, on Dec 16, 2015, Peter W Getsinger (director) purchased 3,300 shares at $32.56 per share price. On Jun 8, 2015, Brian R Sherras (director) purchased 27,965 shares at $0.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Argan Inc. is a holding company. The Company conducts operations through its wholly owned subsidiaries Gemma Power Systems LLC and affiliates (GPS) and Southern Maryland Cable Inc. (SMC). The Company operates in two segments: power industry services and telecommunications infrastructure services. Through GPS the Company provides a range of development consulting engineering procurement construction commissioning operations and maintenance services to the power generation and renewable energy markets for a variety of customers including public utilities independent power project owners municipalities public institutions and private industry. Through SMC it provides telecommunications infrastructure services including project management construction and maintenance to the federal government local governments telecommunications and broadband service providers as well as electric utilities.