Serve Robotics (NASDAQ:SERV) COO Touraj Parang Sells 5,000 Shares

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 5,000 shares of Serve Robotics stock in a transaction on Friday, December 12th. The stock was sold at an average price of $13.07, for a total transaction of $65,350.00. Following the completion of the transaction, the chief operating officer directly owned 1,333,691 shares in the company, valued at $17,431,341.37. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Touraj Parang also recently made the following trade(s):

• On Thursday, December 11th, Touraj Parang sold 6,300 shares of Serve Robotics stock. The stock was sold at an average price of $11.87, for a total value of $74,781.00.
• On Thursday, November 6th, Touraj Parang sold 6,100 shares of Serve Robotics stock. The shares were sold at an average price of $10.74, for a total value of $65,514.00.
• On Wednesday, November 5th, Touraj Parang sold 9,500 shares of Serve Robotics stock. The shares were sold at an average price of $11.78, for a total value of $111,910.00.
• On Tuesday, October 7th, Touraj Parang sold 4,825 shares of Serve Robotics stock. The stock was sold at an average price of $15.25, for a total value of $73,581.25.

Serve Robotics Stock Down 9.6%

Shares of Serve Robotics stock opened at $10.97 on Tuesday. The company has a 50 day moving average price of $12.26 and a 200 day moving average price of $11.55. The firm has a market capitalization of $817.05 million, a P/E ratio of -7.36 and a beta of -0.10. Serve Robotics Inc. has a 52 week low of $4.66 and a 52 week high of $24.35.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.17). Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. The company had revenue of $0.69 million for the quarter, compared to analyst estimates of $0.69 million. As a group, research analysts anticipate that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Serve Robotics

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Serve Robotics by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company’s stock valued at $73,000 after purchasing an additional 1,545 shares during the period. Swiss National Bank purchased a new position in Serve Robotics in the first quarter valued at $305,000. EntryPoint Capital LLC acquired a new position in shares of Serve Robotics in the first quarter worth about $358,000. Capital Fund Management S.A. acquired a new position in shares of Serve Robotics in the first quarter worth about $4,244,000. Finally, PEAK6 LLC boosted its stake in shares of Serve Robotics by 377.7% during the 1st quarter. PEAK6 LLC now owns 15,314 shares of the company’s stock worth $88,000 after acquiring an additional 20,829 shares in the last quarter.

Wall Street Analysts Forecast Growth

SERV has been the subject of a number of research reports. Northland Securities set a $26.00 price target on Serve Robotics in a research report on Monday, October 13th. Citigroup reaffirmed an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Serve Robotics in a report on Monday, November 17th. Singular Research upgraded shares of Serve Robotics to a “moderate buy” rating in a research note on Tuesday, August 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a report on Monday, December 8th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Serve Robotics has an average rating of “Moderate Buy” and a consensus price target of $19.33.

About Serve Robotics

Serve Robotics Inc designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc in July 2023.