Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang Sells 1,365 Shares

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 1,365 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.76, for a total transaction of $11,957.40. Following the completion of the sale, the chief operating officer now owns 1,200,956 shares in the company, valued at approximately $10,520,374.56. This trade represents a 0.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, November 21st, Touraj Parang sold 245 shares of Serve Robotics stock. The shares were sold at an average price of $8.84, for a total transaction of $2,165.80.

Serve Robotics Trading Down 2.2 %

NASDAQ SERV traded down $0.19 on Wednesday, hitting $8.59. 3,187,323 shares of the stock were exchanged, compared to its average volume of 9,206,904. Serve Robotics Inc. has a 52-week low of $1.77 and a 52-week high of $24.09. The company’s 50-day moving average price is $9.02 and its two-hundred day moving average price is $7.28.

Hedge Funds Weigh In On Serve Robotics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PFG Investments LLC acquired a new stake in shares of Serve Robotics during the 2nd quarter valued at $110,000. Thomist Capital Management LP acquired a new stake in shares of Serve Robotics in the 2nd quarter valued at $407,000. Bfsg LLC acquired a new stake in shares of Serve Robotics in the 3rd quarter valued at $38,000. Harbour Capital Advisors LLC acquired a new stake in shares of Serve Robotics in the 3rd quarter valued at $198,000. Finally, Yong Rong HK Asset Management Ltd acquired a new stake in shares of Serve Robotics in the 3rd quarter valued at $9,636,000.

Wall Street Analysts Forecast Growth

SERV has been the topic of a number of recent research reports. LADENBURG THALM/SH SH initiated coverage on shares of Serve Robotics in a report on Monday, October 28th. They issued a “buy” rating and a $16.00 target price on the stock. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Finally, Northland Securities initiated coverage on shares of Serve Robotics in a research note on Friday, October 18th. They set an “outperform” rating and a $16.00 price objective on the stock. Two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Strong Buy” and a consensus target price of $16.00.

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.