Serve Robotics (NASDAQ:SERV) COO Touraj Parang Sells 4,219 Shares

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 4,219 shares of Serve Robotics stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total value of $30,545.56. Following the sale, the chief operating officer directly owned 1,298,244 shares of the company’s stock, valued at $9,399,286.56. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, May 7th, Touraj Parang sold 3,888 shares of Serve Robotics stock. The stock was sold at an average price of $9.26, for a total value of $36,002.88.
• On Wednesday, May 6th, Touraj Parang sold 5,993 shares of Serve Robotics stock. The stock was sold at an average price of $9.29, for a total value of $55,674.97.
• On Wednesday, April 8th, Touraj Parang sold 3,861 shares of Serve Robotics stock. The stock was sold at an average price of $8.62, for a total value of $33,281.82.

Serve Robotics Stock Up 6.6%

Shares of Serve Robotics stock traded up $0.46 on Thursday, reaching $7.44. 5,838,226 shares of the stock were exchanged, compared to its average volume of 5,089,571. Serve Robotics Inc. has a twelve month low of $6.84 and a twelve month high of $18.64. The firm has a market capitalization of $575.66 million, a price-to-earnings ratio of -3.70 and a beta of 0.53. The business has a 50 day moving average price of $8.77 and a two-hundred day moving average price of $10.14.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. The company had revenue of $2.98 million during the quarter, compared to analyst estimates of $2.83 million. Research analysts forecast that Serve Robotics Inc. will post -2.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SERV. Cantor Fitzgerald reduced their target price on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Guggenheim began coverage on Serve Robotics in a research report on Monday, April 20th. They set a “buy” rating and a $13.00 price target for the company. Freedom Capital cut Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Weiss Ratings cut Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Finally, LADENBURG THALM/SH SH boosted their price target on Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.51.

Institutional Trading of Serve Robotics

Several large investors have recently added to or reduced their stakes in the stock. Gordian Capital Singapore Pte Ltd acquired a new stake in Serve Robotics in the 4th quarter valued at about $31,000. Quadrant Capital Group LLC purchased a new position in shares of Serve Robotics in the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC increased its holdings in shares of Serve Robotics by 299.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after acquiring an additional 2,392 shares during the last quarter. CWM LLC grew its stake in Serve Robotics by 514.1% during 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 last quarter. Finally, Harbour Investments Inc. grew its stake in Serve Robotics by 149.3% during the 4th quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock worth $39,000 after buying an additional 2,240 shares during the last quarter.

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.