Serve Robotics (NASDAQ:SERV) COO Sells $30,545.56 in Stock

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 4,219 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $7.24, for a total value of $30,545.56. Following the completion of the sale, the chief operating officer directly owned 1,298,244 shares of the company’s stock, valued at $9,399,286.56. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 shares were 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 shares were 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 shares were sold at an average price of $8.62, for a total value of $33,281.82.

Serve Robotics Trading Up 6.6%

Shares of SERV traded up $0.46 during mid-day trading on Thursday, hitting $7.44. The company’s stock had a trading volume of 5,838,226 shares, compared to its average volume of 5,089,571. The firm has a 50-day simple moving average of $8.77 and a 200 day simple moving average of $10.14. The firm has a market capitalization of $575.66 million, a P/E ratio of -3.70 and a beta of 0.53. Serve Robotics Inc. has a 1-year low of $6.84 and a 1-year high of $18.64.

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

Analysts Set New Price Targets

Several research firms have weighed in on SERV. Freedom Capital downgraded Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Cantor Fitzgerald reduced their target price on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Guggenheim started coverage on Serve Robotics in a research report on Monday, April 20th. They set a “buy” rating and a $13.00 target price on the stock. Weiss Ratings downgraded 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 company a “buy” rating in a research report on Wednesday, May 13th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Serve Robotics during the fourth quarter worth about $31,000. Quadrant Capital Group LLC acquired a new position in shares of Serve Robotics during the fourth quarter worth about $31,000. EverSource Wealth Advisors LLC lifted its stake 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 in the last quarter. CWM LLC lifted its stake in shares of Serve Robotics by 514.1% during the fourth quarter. CWM LLC now owns 3,439 shares of the company’s stock worth $36,000 after purchasing an additional 2,879 shares in the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Serve Robotics by 149.3% during the fourth quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock worth $39,000 after purchasing an additional 2,240 shares in 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.