If you physically move a hard disk to a different machine?
That depends on the machines. If that HD is not your startup disk, and the new machine has enough RAM, it should be fine. If the new machine has less RAM than the old, you may have to adjust guest allocation.
If the disk you are moving is your startup disk, and the new machine has enough RAM, and OSX boots properly, then again, it should work. If it doesn't, you can reinstall Parallels, which will not touch your VMs, reboot the Mac, and it should work.
Note that I haven't tried it.