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.
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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.
