Argan’s (NYSE:AGX) President, CEO, and Director, David Hibbert Watson, recently increased his stake in the company. AGX provides consulting, engineering, procurement, construction, and maintenance services for the power generation and renewable energy industry.
According to the SEC filing, Watson exercised his option awarded on April 16, 2020, to purchase 32,000 shares of Argan’s common stock at a price of $33.81 per share. The transaction value stood at $1.1 million and was undertaken on October 9.
As per the data collected by TipRanks, Watson has witnessed an impressive 92% success rate in the past three months. Further, he has been able to generate an average return of 31.5% per transaction.
Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is AGX a Good Stock to Buy?
Over the past three months, AGX, a small-cap stock, has experienced an 18% surge in share price. The company’s strong cash position supports its capital deployment activities. Argan raised its dividend by 20% last month and currently has a dividend yield of 2.1%.
Robert Brown from Lake Street is the sole analyst covering Argan stock. Based on his Buy rating AGX has a Moderate Buy consensus rating. The analyst’s price target of $61 implies 29.8% upside potential from the current level.
