Serve Robotics (NASDAQ:SERV) Shares Down 1.2% – What’s Next?

Serve Robotics Inc. (NASDAQ:SERV)’s stock price was down 1.2% during mid-day trading on Wednesday . The company traded as low as $10.46 and last traded at $10.73. Approximately 2,044,864 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 8,025,354 shares. The stock had previously closed at $10.86.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SERV. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Wedbush began coverage on Serve Robotics in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a research report on Monday. Oppenheimer initiated coverage on shares of Serve Robotics in a research note on Thursday, December 18th. They issued an “outperform” rating and a $20.00 target price for the company. Finally, Singular Research raised shares of Serve Robotics to a “moderate buy” rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Serve Robotics currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

Serve Robotics Stock Down 1.2%

The stock has a market capitalization of $799.20 million, a P/E ratio of -7.20 and a beta of -0.14. The company has a 50-day moving average price of $11.63 and a two-hundred day moving average price of $11.49.

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

Insiders Place Their Bets

In related news, CEO Ali Kashani sold 16,730 shares of Serve Robotics stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $11.87, for a total transaction of $198,585.10. Following the completion of the sale, the chief executive officer owned 3,374,862 shares of the company’s stock, valued at approximately $40,059,611.94. This trade represents a 0.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian Read sold 6,700 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $13.15, for a total value of $88,105.00. Following the transaction, the chief financial officer owned 337,199 shares of the company’s stock, valued at approximately $4,434,166.85. The trade was a 1.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 225,895 shares of company stock worth $2,827,654. 5.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SERV. Vanguard Group Inc. raised its stake in Serve Robotics by 25.2% in the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock valued at $30,178,000 after purchasing an additional 521,945 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Serve Robotics by 11.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,109,001 shares of the company’s stock worth $12,898,000 after buying an additional 112,718 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Serve Robotics by 176.0% in the 2nd quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock worth $10,054,000 after buying an additional 560,361 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of Serve Robotics during the 3rd quarter valued at $8,840,000. Finally, Legal & General Group Plc lifted its holdings in shares of Serve Robotics by 8.3% during the 3rd quarter. Legal & General Group Plc now owns 751,834 shares of the company’s stock worth $8,816,000 after acquiring an additional 57,905 shares during the last quarter.

About Serve Robotics

Serve Robotics develops and operates autonomous sidewalk delivery robots designed to transform last-mile logistics for restaurants, retailers and grocery brands. By combining proprietary hardware, sensor suites and dispatch software, the company enables on-demand deliveries of food, beverages and consumer goods while minimizing reliance on traditional vehicle fleets.

The core Serve robot integrates four-wheeled mobility, LiDAR and vision cameras with AI-driven navigation algorithms to detect obstacles, traverse urban sidewalks and interact safely with pedestrians.