Insider Selling: Serve Robotics (NASDAQ:SERV) COO Sells 3,558 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 3,558 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $10.17, for a total transaction of $36,184.86. Following the sale, the chief operating officer directly owned 1,320,127 shares in the company, valued at $13,425,691.59. This trade represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Wednesday, February 4th, Touraj Parang sold 5,998 shares of Serve Robotics stock. The shares were sold at an average price of $10.33, for a total transaction of $61,959.34.
• 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 shares were sold at an average price of $13.07, for a total value 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 Price Performance

Shares of Serve Robotics stock traded down $0.47 during trading on Thursday, hitting $9.32. 3,846,614 shares of the company’s stock traded hands, compared to its average volume of 7,251,426. Serve Robotics Inc. has a 1 year low of $4.66 and a 1 year high of $23.10. The business has a 50-day simple moving average of $11.97 and a 200-day simple moving average of $11.72. The stock has a market capitalization of $694.15 million, a P/E ratio of -6.25 and a beta of 0.33.

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

Hedge Funds Weigh In On Serve Robotics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC acquired a new stake in Serve Robotics during the 3rd quarter valued at approximately $27,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Serve Robotics in the fourth quarter worth $31,000. EverSource Wealth Advisors LLC raised its holdings in shares of Serve Robotics by 299.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock worth $33,000 after purchasing an additional 2,392 shares during the last quarter. CWM LLC lifted its position in Serve Robotics by 514.1% during the fourth quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after purchasing an additional 2,879 shares during the period. Finally, Harbour Investments Inc. boosted its holdings in Serve Robotics by 149.3% in the fourth quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock valued at $39,000 after purchasing an additional 2,240 shares during the last quarter.

Analyst Ratings Changes

SERV has been the subject of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating on shares of Serve Robotics in a research note on Monday, November 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a research report on Monday, December 29th. LADENBURG THALM/SH SH raised shares of Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. Oppenheimer began coverage on Serve Robotics in a research report on Thursday, December 18th. They set an “outperform” rating and a $20.00 target price on the stock. Finally, Northland Securities reaffirmed an “outperform” rating and set a $26.00 price objective on shares of Serve Robotics in a research report on Friday, January 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Serve Robotics presently has an average 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.