Serve Robotics (NASDAQ:SERV) Stock Price Down 2.5% After Insider Selling

Serve Robotics Inc. (NASDAQ:SERV)’s stock price dropped 2.5% on Monday after an insider sold shares in the company. The stock traded as low as $13.90 and last traded at $14.34. Approximately 6,540,820 shares were traded during trading, a decline of 41% from the average daily volume of 11,125,749 shares. The stock had previously closed at $14.71.

Specifically, CEO Ali Kashani sold 9,088 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $14.30, for a total value of $129,958.40. Following the sale, the chief executive officer directly owned 3,365,774 shares in the company, valued at $48,130,568.20. This represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Touraj Parang sold 4,008 shares of Serve Robotics stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $14.30, for a total value of $57,314.40. Following the transaction, the chief operating officer directly owned 1,329,683 shares of the company’s stock, valued at approximately $19,014,466.90. The trade was a 0.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other Serve Robotics news, CFO Brian Read sold 4,748 shares of Serve Robotics stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $15.81, for a total transaction of $75,065.88. Following the completion of the transaction, the chief financial officer directly owned 330,588 shares of the company’s stock, valued at approximately $5,226,596.28. This trade represents a 1.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

SERV has been the subject of a number of recent analyst reports. LADENBURG THALM/SH SH upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Serve Robotics in a research note on Monday, November 17th. Loop Capital set a $16.00 price objective on shares of Serve Robotics in a report on Wednesday, December 31st. Citigroup reissued an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Serve Robotics presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.80.

Serve Robotics Stock Down 2.5%

The stock’s 50-day moving average price is $11.01 and its 200-day moving average price is $11.54. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -9.62 and a beta of 0.27.

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

Hedge Funds Weigh In On Serve Robotics

Large investors have recently made changes to their positions in the company. Farther Finance Advisors LLC acquired a new stake in Serve Robotics in the third quarter worth about $27,000. Allworth Financial LP boosted its stake in shares of Serve Robotics by 316.7% in the 2nd quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock valued at $45,000 after purchasing an additional 2,964 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Serve Robotics by 166.8% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock worth $49,000 after buying an additional 2,637 shares during the period. Ameritas Investment Partners Inc. bought a new stake in shares of Serve Robotics during the second quarter worth approximately $55,000. Finally, Russell Investments Group Ltd. acquired a new position in Serve Robotics in the third quarter valued at approximately $59,000.

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.