Touraj Parang Sells 5,998 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 5,998 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $10.33, for a total transaction of $61,959.34. Following the transaction, the chief operating officer owned 1,323,685 shares in the company, valued at approximately $13,673,666.05. The trade was a 0.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, January 8th, Touraj Parang sold 4,008 shares of Serve Robotics stock. The stock was sold at an average price of $14.30, for a total value of $57,314.40.
• On Friday, December 12th, Touraj Parang sold 5,000 shares of Serve Robotics stock. The stock was sold at an average price of $13.07, for a total transaction of $65,350.00.
• On Thursday, December 11th, Touraj Parang sold 6,300 shares of Serve Robotics stock. The shares were sold at an average price of $11.87, for a total transaction of $74,781.00.

Serve Robotics Stock Performance

Shares of Serve Robotics stock traded down $0.97 on Thursday, reaching $9.19. 5,272,043 shares of the stock were exchanged, compared to its average volume of 7,876,584. The firm has a market cap of $684.50 million, a PE ratio of -6.17 and a beta of 0.33. The firm’s 50 day moving average is $11.99 and its 200-day moving average is $11.77. Serve Robotics Inc. has a one year low of $4.66 and a one year high of $23.10.

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

Hedge Funds Weigh In On Serve Robotics

A number of institutional investors have recently added to or reduced their stakes in SERV. Farther Finance Advisors LLC purchased a new position in Serve Robotics in the third quarter worth about $27,000. CWM LLC boosted its holdings in Serve Robotics by 514.1% in the 4th quarter. CWM LLC now owns 3,439 shares of the company’s stock worth $36,000 after buying an additional 2,879 shares during the period. Allworth Financial LP grew its holdings in Serve Robotics by 316.7% during the 2nd quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock valued at $45,000 after buying an additional 2,964 shares in the last quarter. SBI Securities Co. Ltd. grew its position in shares of Serve Robotics by 166.8% during the third quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock valued at $49,000 after purchasing an additional 2,637 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in Serve Robotics in the second quarter worth $55,000.

Analyst Ratings Changes

Several research analysts have commented on SERV shares. Citigroup reaffirmed an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Loop Capital set a $16.00 target price on Serve Robotics in a research report on Wednesday, December 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday, December 29th. Freedom Capital upgraded shares of Serve Robotics to a “strong-buy” rating in a report on Wednesday, December 31st. Finally, Oppenheimer began coverage on shares of Serve Robotics in a report on Thursday, December 18th. They set an “outperform” rating and a $20.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $18.80.

About Serve Robotics

Serve Robotics develops and operates autonomous sidewalk delivery robots designed to transform last-mile logistics for restaurants, retailers and grocery brands. By combining proprietary hardware, sensor suites and dispatch software, the company enables on-demand deliveries of food, beverages and consumer goods while minimizing reliance on traditional vehicle fleets.

The core Serve robot integrates four-wheeled mobility, LiDAR and vision cameras with AI-driven navigation algorithms to detect obstacles, traverse urban sidewalks and interact safely with pedestrians.