Touraj Parang Sells 1,098 Shares of Serve Robotics Inc. (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 1,098 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $11.33, for a total value of $12,440.34. Following the completion of the sale, the chief operating officer now directly owns 1,213,439 shares in the company, valued at approximately $13,748,263.87. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, December 9th, Touraj Parang sold 50,000 shares of Serve Robotics stock. The shares were sold at an average price of $12.99, for a total value of $649,500.00.
• On Monday, November 25th, Touraj Parang sold 1,365 shares of Serve Robotics stock. The shares were sold at an average price of $8.76, for a total value of $11,957.40.
• On Thursday, November 21st, Touraj Parang sold 245 shares of Serve Robotics stock. The shares were sold at an average price of $8.84, for a total value of $2,165.80.

Serve Robotics Price Performance

SERV traded up $0.18 on Monday, hitting $11.98. 16,690,889 shares of the company were exchanged, compared to its average volume of 9,247,900. The firm has a fifty day simple moving average of $9.22 and a two-hundred day simple moving average of $7.61. Serve Robotics Inc. has a 12 month low of $1.77 and a 12 month high of $24.09.

Hedge Funds Weigh In On Serve Robotics

Several institutional investors and hedge funds have recently bought and sold shares of SERV. Larson Financial Group LLC bought a new stake in shares of Serve Robotics in the 3rd quarter worth approximately $26,000. Bfsg LLC bought a new stake in shares of Serve Robotics during the third quarter valued at approximately $38,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Serve Robotics during the third quarter valued at approximately $68,000. Quantum Private Wealth LLC bought a new stake in shares of Serve Robotics during the third quarter valued at approximately $80,000. Finally, PFG Investments LLC bought a new stake in shares of Serve Robotics during the second quarter valued at approximately $110,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SERV shares. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. Northland Securities initiated coverage on Serve Robotics in a report on Friday, October 18th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, LADENBURG THALM/SH SH initiated coverage on Serve Robotics in a research report on Monday, October 28th. They set a “buy” rating and a $16.00 price target on the stock. Two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Strong Buy” and a consensus price target of $16.00.

About Serve Robotics

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.