ARGAN INC

Ticker: AGX CUSIP: 04010E109 Class: Common Stock

Cavalier Investments, LLC's Holding History (CIK: 0001655543)

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

Q2 2017

Shares 6,000 Value ($000) $397 Avg Close $51.44 Range $45.31 - $57.90

Q1 2017

Shares 6,000 Value ($000) $397 Avg Close $55.74 Range $49.85 - $61.08

Q4 2016

Shares 3,200 Value ($000) $226 Avg Close $49.57 Range $43.00 - $60.01

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2017	6,000	$397	$51.44	$45.31 - $57.90
Q1 2017	6,000	$397	$55.74	$49.85 - $61.08
Q4 2016	3,200	$226	$49.57	$43.00 - $60.01