Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang Sells 1,365 Shares

Serve Robotics Inc. (NASDAQ:SERV) COO Touraj Parang sold 1,365 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.76, for a total value of $11,957.40. Following the completion of the sale, the chief operating officer now directly owns 1,200,956 shares of the company’s stock, valued at approximately $10,520,374.56. This trade represents a 0.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 Stock Performance

NASDAQ SERV opened at $8.59 on Thursday. Serve Robotics Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $24.09. The stock’s 50-day moving average is $9.02 and its two-hundred day moving average is $7.28.

Hedge Funds Weigh In On Serve Robotics

Institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC bought a new position in Serve Robotics during the third quarter valued at about $26,000. Bfsg LLC bought a new position in Serve Robotics during the third quarter valued at about $38,000. Gordian Capital Singapore Pte Ltd bought a new position in Serve Robotics during the third quarter valued at about $68,000. Quantum Private Wealth LLC bought a new position in Serve Robotics during the third quarter valued at about $80,000. Finally, PFG Investments LLC bought a new position in Serve Robotics during the second quarter valued at about $110,000.

Wall Street Analyst Weigh In

SERV has been the subject of a number of research reports. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Northland Securities initiated coverage on Serve Robotics in a research report on Friday, October 18th. They set an “outperform” rating and a $16.00 price objective for the company. 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 objective for the company. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and an average target price 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.