Serve Robotics (NASDAQ:SERV) COO Sells $61,959.34 in Stock

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 5,998 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $10.33, for a total value of $61,959.34. Following the sale, the chief operating officer owned 1,323,685 shares in the company, valued at $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 available through the SEC website.

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 transaction 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 stock was sold at an average price of $11.87, for a total value of $74,781.00.

Serve Robotics Trading Down 9.5%

NASDAQ:SERV traded down $0.97 on Thursday, hitting $9.19. 5,272,043 shares of the company’s stock traded hands, compared to its average volume of 7,876,584. Serve Robotics Inc. has a 1 year low of $4.66 and a 1 year high of $23.10. The firm has a 50-day moving average price of $11.99 and a 200-day moving average price of $11.77. The company has a market cap of $684.50 million, a PE ratio of -6.17 and a beta of 0.33.

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

Institutional Investors Weigh In On Serve Robotics

Several hedge funds have recently bought and sold shares of SERV. Farther Finance Advisors LLC acquired a new position in shares of Serve Robotics in the third quarter valued at approximately $27,000. CWM LLC grew its holdings in Serve Robotics by 514.1% in the 4th quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after buying an additional 2,879 shares in the last quarter. Allworth Financial LP increased its position in Serve Robotics by 316.7% during the 2nd quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock worth $45,000 after buying an additional 2,964 shares during the period. SBI Securities Co. Ltd. lifted its holdings 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 worth $49,000 after buying an additional 2,637 shares in the last quarter. Finally, Ameritas Investment Partners Inc. bought a new stake in shares of Serve Robotics in the second quarter valued at about $55,000.

Analysts Set New Price Targets

Several brokerages recently issued reports on SERV. Oppenheimer started coverage on shares of Serve Robotics in a research report on Thursday, December 18th. They set an “outperform” rating and a $20.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Serve Robotics in a report on Monday, November 17th. Northland Securities reissued an “outperform” rating and issued a $26.00 target price on shares of Serve Robotics in a research report on Friday, January 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a report on Monday, December 29th. Finally, Citigroup reiterated an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $18.80.

Serve Robotics Company Profile

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.