ARGAN INC

Ticker: AGX CUSIP: 04010E109 Class: Common Stock

Acuitas Investments, LLC's Holding History (CIK: 0001524828)

Note: Option positions (PUT/CALL) are excluded.

Q3 2018

Shares 86,223 Value ($000) $3,708 Avg Close $33.11 Range $30.30 - $37.34

Q2 2018

Shares 39,923 Value ($000) $1,635 Avg Close $31.67 Range $28.40 - $35.69

Q1 2018

Shares 12,211 Value ($000) $524 Avg Close $34.03 Range $30.52 - $37.91

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2018	86,223	$3,708	$33.11	$30.30 - $37.34
Q2 2018	39,923	$1,635	$31.67	$28.40 - $35.69
Q1 2018	12,211	$524	$34.03	$30.52 - $37.91