Serve Robotics (NASDAQ:SERV) Stock Price Down 5.2% – Time to Sell?

by · The Cerbat Gem

Serve Robotics Inc. (NASDAQ:SERV – Get Free Report) shares fell 5.2% during trading on Monday . The company traded as low as $9.67 and last traded at $9.73. 3,088,277 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 8,031,798 shares. The stock had previously closed at $10.26.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Wedbush assumed coverage on shares of Serve Robotics in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 price target on the stock. Seaport Res Ptn downgraded shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. Northland Securities set a $26.00 target price on shares of Serve Robotics in a report on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a research report on Monday, November 24th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.33.

Get Our Latest Stock Report on Serve Robotics

Serve Robotics Stock Down 5.2%

The firm has a 50-day simple moving average of $12.38 and a 200 day simple moving average of $11.48. The company has a market cap of $724.69 million, a price-to-earnings ratio of -6.53 and a beta of -0.10.

Serve Robotics (NASDAQ:SERV – Get Free Report) last announced 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 business had revenue of $0.69 million for the quarter, compared to analysts’ expectations of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. Serve Robotics has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. As a group, research analysts expect that Serve Robotics Inc. will post -0.98 EPS for the current year.

Insider Activity at Serve Robotics

In other Serve Robotics news, CEO Ali Kashani sold 164,735 shares of Serve Robotics stock in a transaction on Monday, September 8th. The shares were sold at an average price of $10.33, for a total value of $1,701,712.55. Following the transaction, the chief executive officer directly owned 3,434,002 shares in the company, valued at approximately $35,473,240.66. The trade was a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Euan Abraham sold 25,000 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $14.99, for a total transaction of $374,750.00. Following the completion of the sale, the insider directly owned 227,019 shares of the company’s stock, valued at $3,403,014.81. The trade was a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 458,709 shares of company stock worth $5,301,845 in the last three months. Company insiders own 21.40% of the company’s stock.

Institutional Trading of Serve Robotics

Hedge funds have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors purchased a new position in shares of Serve Robotics in the 1st quarter valued at approximately $74,000. Charles Schwab Investment Management Inc. raised its stake in shares of Serve Robotics by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company’s stock worth $73,000 after purchasing an additional 1,545 shares during the last quarter. Swiss National Bank acquired a new stake in shares of Serve Robotics during the first quarter worth $305,000. Virtu Financial LLC lifted its holdings in shares of Serve Robotics by 71.5% during the first quarter. Virtu Financial LLC now owns 59,054 shares of the company’s stock worth $340,000 after purchasing an additional 24,614 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Serve Robotics in the 1st quarter valued at $146,000.

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.

See Also