Ali Kashani Sells 15,885 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 15,885 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total transaction of $115,007.40. Following the transaction, the chief executive officer directly owned 3,278,091 shares of the company’s stock, valued at approximately $23,733,378.84. This trade represents a 0.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ali Kashani also recently made the following trade(s):

• On Thursday, May 7th, Ali Kashani sold 14,644 shares of Serve Robotics stock. The stock was sold at an average price of $9.26, for a total transaction of $135,603.44.
• On Wednesday, May 6th, Ali Kashani sold 11,753 shares of Serve Robotics stock. The stock was sold at an average price of $9.29, for a total transaction of $109,185.37.
• On Wednesday, April 8th, Ali Kashani sold 14,541 shares of Serve Robotics stock. The stock was sold at an average price of $8.62, for a total transaction of $125,343.42.

Serve Robotics Stock Up 6.6%

SERV stock traded up $0.46 during mid-day trading on Thursday, hitting $7.44. 5,832,098 shares of the company were exchanged, compared to its average volume of 5,089,571. The firm has a market capitalization of $575.66 million, a P/E ratio of -3.70 and a beta of 0.53. The business has a fifty day simple moving average of $8.77 and a 200-day simple moving average of $10.14. Serve Robotics Inc. has a 12-month low of $6.84 and a 12-month high of $18.64.

Serve Robotics (NASDAQ:SERV) last announced its earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.08). The company had revenue of $2.98 million for the quarter, compared to analysts’ expectations of $2.83 million. Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%. Research analysts predict that Serve Robotics Inc. will post -2.64 EPS for the current year.

Analyst Upgrades and Downgrades

SERV has been the subject of several research analyst reports. Cantor Fitzgerald lowered their target price on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Guggenheim initiated coverage on shares of Serve Robotics in a research note on Monday, April 20th. They issued a “buy” rating and a $13.00 price objective for the company. Weiss Ratings lowered shares of Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 2nd. Freedom Capital lowered shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Finally, LADENBURG THALM/SH SH raised their price objective on shares of Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.51.

Institutional Trading of Serve Robotics

Several hedge funds have recently added to or reduced their stakes in SERV. Gordian Capital Singapore Pte Ltd acquired a new stake in Serve Robotics in the fourth quarter valued at approximately $31,000. Quadrant Capital Group LLC acquired a new stake in Serve Robotics in the fourth quarter valued at approximately $31,000. EverSource Wealth Advisors LLC raised its holdings in Serve Robotics by 299.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after acquiring an additional 2,392 shares in the last quarter. CWM LLC raised its holdings in Serve Robotics by 514.1% in the fourth quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after acquiring an additional 2,879 shares in the last quarter. Finally, Harbour Investments Inc. raised its holdings in Serve Robotics by 149.3% in the fourth quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock valued at $39,000 after acquiring an additional 2,240 shares in the last quarter.

Serve Robotics Company Profile

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.