Serve Robotics (NASDAQ:SERV) Hits New 12-Month Low – Here’s What Happened

Serve Robotics Inc. (NASDAQ:SERV) hit a new 52-week low on Tuesday . The company traded as low as $6.66 and last traded at $6.6850, with a volume of 2846548 shares trading hands. The stock had previously closed at $7.22.

Analyst Ratings Changes

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

Serve Robotics Trading Down 7.1%

The company has a market capitalization of $518.77 million, a PE ratio of -3.33 and a beta of 0.55. The stock has a fifty day simple moving average of $8.70 and a 200-day simple moving average of $10.10.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). The business 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%. As a group, equities research analysts predict that Serve Robotics Inc. will post -2.64 EPS for the current year.

Insiders Place Their Bets

In other Serve Robotics news, COO Touraj Parang sold 4,219 shares of Serve Robotics stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total transaction of $30,545.56. Following the completion of the sale, the chief operating officer directly owned 1,298,244 shares of the company’s stock, valued at $9,399,286.56. The trade was a 0.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Read sold 2,790 shares of Serve Robotics stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $9.29, for a total value of $25,919.10. Following the sale, the chief financial officer directly owned 318,768 shares of the company’s stock, valued at $2,961,354.72. This trade represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 80,650 shares of company stock valued at $691,933 in the last ninety days. Insiders own 5.00% of the company’s stock.

Institutional Trading of Serve Robotics

Several institutional investors and hedge funds have recently made changes to their positions in SERV. Goldman Sachs Group Inc. lifted its holdings in shares of Serve Robotics by 280.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company’s stock valued at $1,709,000 after purchasing an additional 219,018 shares during the last quarter. Creative Planning lifted its holdings in shares of Serve Robotics by 25.9% in the 2nd quarter. Creative Planning now owns 12,923 shares of the company’s stock valued at $148,000 after purchasing an additional 2,655 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Serve Robotics by 294.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 29,905 shares of the company’s stock valued at $342,000 after purchasing an additional 22,320 shares during the last quarter. Rhumbline Advisers purchased a new stake in shares of Serve Robotics in the 2nd quarter valued at about $767,000. Finally, American Century Companies Inc. purchased a new stake in shares of Serve Robotics in the 2nd quarter valued at about $122,000.

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.