Serve Robotics (NASDAQ:SERV) COO Touraj Parang Sells 9,500 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 9,500 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $11.78, for a total transaction of $111,910.00. Following the transaction, the chief operating officer owned 1,351,091 shares of the company’s stock, valued at approximately $15,915,851.98. The trade was a 0.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 transaction of $73,581.25.
• On Monday, September 8th, Touraj Parang sold 53,690 shares of Serve Robotics stock. The shares were sold at an average price of $10.35, for a total transaction of $555,691.50.

Serve Robotics Stock Performance

Serve Robotics stock opened at $11.68 on Thursday. Serve Robotics Inc. has a 1 year low of $4.66 and a 1 year high of $24.35. The firm has a 50 day moving average price of $12.91 and a 200 day moving average price of $11.09. The company has a market cap of $699.42 million, a price-to-earnings ratio of -10.16 and a beta of -0.80.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.13). The business had revenue of $0.64 million for the quarter, compared to analysts’ expectations of $0.63 million. Serve Robotics had a negative return on equity of 36.47% and a negative net margin of 3,726.00%. Sell-side analysts predict that Serve Robotics Inc. will post -0.98 EPS for the current year.

Institutional Trading of Serve Robotics

A number of institutional investors and hedge funds have recently modified their holdings of SERV. Farther Finance Advisors LLC purchased a new stake in shares of Serve Robotics in the third quarter worth about $27,000. Allworth Financial LP increased its position in shares of Serve Robotics by 316.7% in the 2nd quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock valued at $45,000 after acquiring an additional 2,964 shares during the period. SBI Securities Co. Ltd. grew its position in Serve Robotics by 166.8% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock worth $49,000 after purchasing an additional 2,637 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Serve Robotics during the 2nd quarter worth about $55,000. Finally, Total Investment Management Inc. acquired a new stake in shares of Serve Robotics during the 2nd quarter valued at about $76,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SERV. Northland Securities set a $26.00 target price on shares of Serve Robotics in a report on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a research note on Wednesday, October 8th. Seaport Res Ptn downgraded Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. Citigroup reaffirmed an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Finally, Singular Research upgraded Serve Robotics to a “moderate buy” rating in a research report on Tuesday, August 26th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Serve Robotics currently has an average rating of “Moderate Buy” and a consensus target price 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.