Serve Robotics (NASDAQ:SERV) COO Touraj Parang Sells 6,300 Shares

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 6,300 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $11.87, for a total transaction of $74,781.00. Following the sale, the chief operating officer owned 1,338,691 shares in the company, valued at approximately $15,890,262.17. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, December 12th, Touraj Parang sold 5,000 shares of Serve Robotics stock. The shares were sold at an average price of $13.07, for a total value of $65,350.00.
• On Thursday, November 6th, Touraj Parang sold 6,100 shares of Serve Robotics stock. The stock was 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%

SERV stock opened at $10.97 on Tuesday. The stock has a market cap of $817.05 million, a PE ratio of -7.36 and a beta of -0.10. The firm’s 50-day simple moving average is $12.26 and its 200 day simple moving average is $11.55. Serve Robotics Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $24.35.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Wednesday, November 12th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.17). Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%.The firm had revenue of $0.69 million during the quarter, compared to the consensus estimate of $0.69 million. Equities analysts forecast that Serve Robotics Inc. will post -0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Serve Robotics

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Serve Robotics by 25.2% during the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock valued at $30,178,000 after purchasing an additional 521,945 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Serve Robotics by 11.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,109,001 shares of the company’s stock valued at $12,898,000 after acquiring an additional 112,718 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Serve Robotics by 176.0% in the 2nd quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock worth $10,054,000 after acquiring an additional 560,361 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Serve Robotics in the 3rd quarter worth $8,840,000. Finally, Legal & General Group Plc raised its position in shares of Serve Robotics by 8.3% during the third quarter. Legal & General Group Plc now owns 751,834 shares of the company’s stock worth $8,816,000 after purchasing an additional 57,905 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Citigroup reaffirmed an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Northland Securities set a $26.00 price objective on shares of Serve Robotics in a research note on Monday, October 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Wedbush began coverage on shares of Serve Robotics in a research report on Wednesday, August 27th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Singular Research raised shares of Serve Robotics to a “moderate buy” rating in a research note on Tuesday, August 26th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.33.

Serve Robotics Company Profile

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.