Serve Robotics (NASDAQ:SERV) Shares Down 2.6% – Here’s What Happened

Serve Robotics Inc. (NASDAQ:SERV) shares traded down 2.6% on Monday . The stock traded as low as $8.93 and last traded at $9.24. 3,036,459 shares traded hands during trading, a decline of 53% from the average session volume of 6,505,333 shares. The stock had previously closed at $9.49.

Analysts Set New Price Targets

A number of analysts have commented on the company. Freedom Capital raised Serve Robotics to a “strong-buy” rating in a report on Wednesday, December 31st. Oppenheimer started coverage on Serve Robotics in a research report on Thursday, December 18th. They set an “outperform” rating and a $20.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Loop Capital set a $16.00 target price on shares of Serve Robotics in a research note on Wednesday, December 31st. Finally, LADENBURG THALM/SH SH upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Thursday, December 18th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $18.80.

Serve Robotics Trading Down 2.6%

The stock has a 50 day moving average of $11.49 and a 200-day moving average of $11.68. The company has a market capitalization of $688.20 million, a P/E ratio of -6.20 and a beta of 0.35.

Insider Activity

In other Serve Robotics news, CFO Brian Read sold 7,500 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $13.05, for a total value of $97,875.00. Following the completion of the sale, the chief financial officer owned 344,270 shares in the company, valued at approximately $4,492,723.50. This represents a 2.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Touraj Parang sold 6,300 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $11.87, for a total value of $74,781.00. Following the completion of the transaction, the chief operating officer owned 1,338,691 shares in the company, valued at $15,890,262.17. The trade was a 0.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 123,298 shares of company stock worth $1,469,083. 21.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Serve Robotics

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Serve Robotics by 25.2% during the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock valued at $30,178,000 after buying an additional 521,945 shares during the last quarter. Geode Capital Management LLC increased its holdings in Serve Robotics by 29.1% in the 4th quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company’s stock valued at $15,137,000 after acquiring an additional 328,405 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Serve Robotics by 12.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company’s stock valued at $12,950,000 after acquiring an additional 138,558 shares during the last quarter. State Street Corp lifted its stake in Serve Robotics by 29.5% in the 4th quarter. State Street Corp now owns 1,245,411 shares of the company’s stock worth $12,927,000 after purchasing an additional 283,497 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Serve Robotics by 34.5% during the 4th quarter. First Trust Advisors LP now owns 1,022,459 shares of the company’s stock valued at $10,613,000 after purchasing an additional 262,348 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.