Serve Robotics (NASDAQ:SERV) Insider Sells $59,835.88 in Stock

Serve Robotics Inc. (NASDAQ:SERV) insider Anthony Armenta sold 5,003 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $11.96, for a total value of $59,835.88. Following the sale, the insider directly owned 555,034 shares in the company, valued at $6,638,206.64. The trade was a 0.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Anthony Armenta also recently made the following trade(s):

• On Friday, November 14th, Anthony Armenta sold 49,082 shares of Serve Robotics stock. The stock was sold at an average price of $9.32, for a total value of $457,444.24.
• On Wednesday, November 5th, Anthony Armenta sold 3,545 shares of Serve Robotics stock. The shares were sold at an average price of $11.63, for a total value of $41,228.35.

Serve Robotics Price Performance

Shares of Serve Robotics stock traded down $0.40 during trading hours on Tuesday, hitting $10.57. The company’s stock had a trading volume of 4,892,706 shares, compared to its average volume of 8,086,116. The company has a market capitalization of $787.25 million, a PE ratio of -7.09 and a beta of -0.10. The stock has a 50 day moving average of $12.26 and a 200 day moving average of $11.55. Serve Robotics Inc. has a 12 month low of $4.66 and a 12 month high of $24.35.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.17). Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. The business had revenue of $0.69 million during the quarter, compared to analyst estimates of $0.69 million. Equities analysts expect that Serve Robotics Inc. will post -0.98 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SERV shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Singular Research raised shares of Serve Robotics to a “moderate buy” rating in a research note on Tuesday, August 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday. Northland Securities set a $26.00 price target on Serve Robotics in a report on Monday, October 13th. Finally, Wedbush began coverage on Serve Robotics in a report on Wednesday, August 27th. They set an “outperform” rating and a $15.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.33.

Institutional Investors Weigh In On Serve Robotics

Several large investors have recently made changes to their positions in the stock. Cambria Investment Management L.P. grew its stake in shares of Serve Robotics by 25.0% in the third quarter. Cambria Investment Management L.P. now owns 74,391 shares of the company’s stock valued at $865,000 after buying an additional 14,877 shares in the last quarter. Captrust Financial Advisors lifted its stake in Serve Robotics by 23.0% in the third quarter. Captrust Financial Advisors now owns 589,441 shares of the company’s stock valued at $6,855,000 after acquiring an additional 110,094 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Serve Robotics by 258.5% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 8,432 shares of the company’s stock valued at $98,000 after acquiring an additional 6,080 shares during the period. Advisory Services Network LLC increased its stake in shares of Serve Robotics by 6.4% during the 3rd quarter. Advisory Services Network LLC now owns 46,448 shares of the company’s stock worth $540,000 after purchasing an additional 2,797 shares during the last quarter. Finally, Verition Fund Management LLC increased its stake in shares of Serve Robotics by 101.0% during the 3rd quarter. Verition Fund Management LLC now owns 127,515 shares of the company’s stock worth $1,483,000 after purchasing an additional 64,068 shares during the last quarter.

Serve Robotics Company Profile

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.