Argan Inc. (NYSE:AGX) CEO Sells Shares Amidst Strong Growth and AI Data Center Demand

Font: Financial Modeling Prep  • Jun 16, 2026

• Argan Inc.'s CEO, Watson David Hibbert, sold 1,880 shares for approximately $1.33 million, despite the company's stock experiencing a significant rally.
• The company's substantial growth and increased demand are largely driven by the expanding need for infrastructure to support AI data centers.
• Argan reported robust financial performance, with its project backlog more than doubling to $2.9 billion and quarterly earnings of $3.24 per share, surpassing analyst estimates.

On June 16, 2026, the President and CEO of Argan Inc. (NYSE:AGX), Watson David Hibbert, sold 1,880 shares of company stock. Argan is a company that specializes in designing and building power-generation plants. It serves clients in the power, industrial, and teledata industries. The shares were sold at $707.35 each, totaling about $1.33 million.

This insider sale occurs as Argan shares have increased by almost 90% year-to-date. This significant stock rally is linked to the growing demand for the company's services. A major driver for this demand is the build-out of AI data centers, which require large amounts of electricity that Argan helps provide. After the sale, the CEO still holds 40,005 shares.

The company's growth is reflected in its project backlog, which represents future expected revenue. Argan's backlog more than doubled in its fiscal 2026, growing from $1.4 billion to $2.9 billion. This growth was seen across all three of its business segments, which include power, industrial, and teledata services.

Argan's recent financial performance has also been strong. The company reported quarterly earnings of $3.24 per share, which was higher than the estimated $2.27 per share. Its revenues for the quarter were approximately $291 million, a large increase from the $193.66 million reported in the same period a year ago.

This performance has attracted positive attention. As highlighted by Zacks Investment Research, Argan is presented as a strong option for growth investors. The firm notes that Argan holds a top Zacks Rank, suggesting it has solid growth attributes and potential to outperform the market.