Serve Robotics (NASDAQ:SERV) COO Sells $65,350.00 in Stock

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $13.07, for a total transaction of $65,350.00. Following the completion of the transaction, the chief operating officer directly owned 1,333,691 shares of the company’s stock, valued at $17,431,341.37. This represents a 0.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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.
• On Thursday, November 6th, Touraj Parang sold 6,100 shares of Serve Robotics stock. The shares were 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 stock was 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 shares were sold at an average price of $15.25, for a total value of $73,581.25.

Serve Robotics Stock Performance

NASDAQ:SERV traded down $1.16 during trading hours on Monday, hitting $10.97. 5,606,831 shares of the company’s stock traded hands, compared to its average volume of 8,099,161. The stock’s fifty day moving average price is $12.33 and its two-hundred day moving average price is $11.56. The firm has a market cap of $817.08 million, a P/E ratio of -7.36 and a beta of -0.14. Serve Robotics Inc. has a twelve month low of $4.66 and a twelve month high of $24.35.

Serve Robotics (NASDAQ:SERV) last released its earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.17). The business had revenue of $0.69 million for the quarter, compared to analysts’ expectations 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 predict that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Serve Robotics by 13.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company’s stock valued at $73,000 after purchasing an additional 1,545 shares in the last quarter. Swiss National Bank bought a new stake in Serve Robotics in the first quarter worth $305,000. EntryPoint Capital LLC acquired a new position in Serve Robotics during the first quarter worth $358,000. Capital Fund Management S.A. acquired a new position in Serve Robotics during the first quarter worth $4,244,000. Finally, PEAK6 LLC raised its holdings in Serve Robotics by 377.7% during the first quarter. PEAK6 LLC now owns 15,314 shares of the company’s stock valued at $88,000 after buying an additional 20,829 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SERV shares. Citigroup reiterated an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Northland Securities set a $26.00 target price on shares of Serve Robotics in a research note on Monday, October 13th. Wedbush began coverage on shares of Serve Robotics in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 price target on the stock. Singular Research upgraded Serve Robotics to a “moderate buy” rating in a report on Tuesday, August 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a research report on Monday, December 8th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Serve Robotics currently has a consensus rating of “Moderate Buy” and an average 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.