Insider Selling: Serve Robotics (NASDAQ:SERV) COO Sells $74,781.00 in Stock

by · The Cerbat Gem

Serve Robotics Inc. (NASDAQ:SERV – Get Free Report) COO Touraj Parang sold 6,300 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $11.87, for a total transaction of $74,781.00. Following the transaction, the chief operating officer directly owned 1,338,691 shares in the company, valued at approximately $15,890,262.17. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • 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, 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 transaction of $65,514.00.
  • On Wednesday, November 5th, Touraj Parang sold 9,500 shares of Serve Robotics stock. The shares were 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 stock was sold at an average price of $15.25, for a total value of $73,581.25.

Serve Robotics Stock Performance

Shares of Serve Robotics stock opened at $9.55 on Thursday. The stock has a market capitalization of $711.28 million, a PE ratio of -6.41 and a beta of -0.14. Serve Robotics Inc. has a 52 week low of $4.66 and a 52 week high of $24.35. The stock has a 50 day moving average price of $12.10 and a two-hundred day moving average price of $11.53.

Serve Robotics (NASDAQ:SERV – Get Free Report) last issued its 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). The firm had revenue of $0.69 million during the quarter, compared to the consensus estimate of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. Research analysts forecast that Serve Robotics Inc. will post -0.98 EPS for the current year.

Institutional Investors Weigh In On Serve Robotics

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC bought a new stake in shares of Serve Robotics in the third quarter valued at approximately $27,000. Allworth Financial LP raised its stake in shares of Serve Robotics by 316.7% during the 2nd quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock valued at $45,000 after purchasing an additional 2,964 shares during the period. SBI Securities Co. Ltd. grew its holdings in Serve Robotics by 166.8% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock valued at $49,000 after buying an additional 2,637 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Serve Robotics during the second quarter valued at about $55,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Serve Robotics in the third quarter worth about $59,000.

Analyst Ratings Changes

SERV has been the subject of several analyst reports. Singular Research raised Serve Robotics to a “moderate buy” rating in a research note on Tuesday, August 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Serve Robotics in a report on Monday, November 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday. Northland Securities set a $26.00 price target on Serve Robotics in a research report on Monday, October 13th. Finally, Oppenheimer started coverage on Serve Robotics in a research report on Thursday. They set an “outperform” rating for the company. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Serve Robotics presently has an average rating of “Moderate Buy” and an average price target of $19.33.

View Our Latest Research Report on Serve Robotics

Serve Robotics Company Profile

(Get Free Report)

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.

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