Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang Sells 1,098 Shares

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 1,098 shares of Serve Robotics stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $11.33, for a total transaction of $12,440.34. Following the completion of the sale, the chief operating officer now owns 1,213,439 shares of the company’s stock, valued at $13,748,263.87. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, December 9th, Touraj Parang sold 50,000 shares of Serve Robotics stock. The stock was sold at an average price of $12.99, for a total value of $649,500.00.
• On Monday, November 25th, Touraj Parang sold 1,365 shares of Serve Robotics stock. The shares were sold at an average price of $8.76, for a total value of $11,957.40.
• On Thursday, November 21st, Touraj Parang sold 245 shares of Serve Robotics stock. The stock was sold at an average price of $8.84, for a total value of $2,165.80.

Serve Robotics Price Performance

Shares of Serve Robotics stock opened at $11.98 on Tuesday. The business has a 50-day simple moving average of $9.22 and a 200-day simple moving average of $7.61. Serve Robotics Inc. has a one year low of $1.77 and a one year high of $24.09.

Analyst Ratings Changes

A number of analysts have issued reports on SERV shares. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. LADENBURG THALM/SH SH began coverage on shares of Serve Robotics in a research report on Monday, October 28th. They issued a “buy” rating and a $16.00 price target for the company. Finally, Northland Securities assumed coverage on Serve Robotics in a research report on Friday, October 18th. They set an “outperform” rating and a $16.00 price objective on the stock. Two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy” and an average price target of $16.00.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SERV. Yong Rong HK Asset Management Ltd purchased a new stake in shares of Serve Robotics in the 3rd quarter valued at approximately $9,636,000. Thomist Capital Management LP acquired a new position in shares of Serve Robotics during the second quarter worth $407,000. PFG Investments LLC purchased a new position in Serve Robotics in the second quarter valued at $110,000. Bfsg LLC acquired a new stake in Serve Robotics in the third quarter valued at $38,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Serve Robotics during the 3rd quarter worth about $68,000.

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.