NEW YORK, Jan 18, 2026, 07:08 ET — Market closed
- Argan shares leapt 16.4% on Friday, closing at $383.66 after hitting an intraday high near $392.
- U.S. stock markets are shut Monday for Martin Luther King Jr. Day, pushing the next cash session to Tuesday.
- Short interest in AGX fell in the latest reporting period, a sign some bearish bets were pared back.
Argan, Inc. shares surged 16.4% on Friday, finishing at $383.66 after swinging between $335.53 and $392.48, according to Yahoo Finance data. 1
The jump left traders heading into a long weekend with little time to chase the move. U.S. equity markets are closed on Monday for Martin Luther King Jr. Day and reopen on Tuesday. 2
One read-through for investors: the stock’s sharp burst came as short interest eased in the latest settlement-date report. Short interest measures the number of shares borrowed and sold by investors betting the price will fall; it fell about 20% to 521,702 shares as of Dec. 31, MarketBeat data showed. 3
Argan, based in Arlington, Virginia, provides engineering, procurement and construction work — “EPC” — and related services, with a heavy tilt to power projects. In its most recent quarterly update, the company reported project backlog — contracted work not yet performed — of about $3.0 billion as of Oct. 31, and said it had no debt; CEO David Watson said the company was “optimistic about our ability to drive revenue growth and enhanced profitability.” 4
The move also landed in a corner of the market that can gap fast. Quanta Services rose about 4% in the last session, Fluor added roughly 1%, while KBR edged lower, market data showed.
Investors are also looking at income dates. Argan declared a regular quarterly cash dividend of $0.50 per share, payable Jan. 30 to shareholders of record on Jan. 22; Watson said returning cash to shareholders “remains a key tenet” of the company’s capital plan. 5
But the same things that drive the upside can cut the other way. Argan’s results can be lumpy because project timing shifts, and backlog does not guarantee smooth revenue if permits, labor or equipment snag.
For Tuesday’s reopen, traders will be watching whether Friday’s rally holds without fresh catalysts, and whether volume follows through. The next near-term calendar marker is Jan. 22 for the dividend record date, with any contract headlines or filings likely to set the tone in between.
