Argan Shares Drop 13% Despite Higher Q3 Earnings

(RTTNews) - Argan, Inc. (AGX) is down 15.54 percent, falling $55.39 to $301.00 on Friday, even after reporting higher third-quarter earnings the previous day. The company posted net income of $30.74 million, or $2.17 per share, compared with $28.01 million, or $2.00 per share, a year earlier. Revenue slipped 2.3 percent to $251.15 million from $257.01 million last year.

Argan is currently trading at $310.80 versus a previous close of $356.39. The stock opened at $348.74 and has traded between $278.04 and $312.88 so far today, with volume at 707,191 shares.

The company's 52-week range is between $101.02 and $399.30.