Serve Robotics Inc. (NASDAQ:SERV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Serve Robotics Inc. (NASDAQ:SERV) have been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $14.80.

A number of analysts recently weighed in on the stock. Guggenheim decreased their price target on shares of Serve Robotics from $13.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Cantor Fitzgerald lowered shares of Serve Robotics from an “overweight” rating to a “neutral” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. LADENBURG THALM/SH SH increased their target price on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Oppenheimer decreased their target price on shares of Serve Robotics from $20.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, August 7th.

Serve Robotics Trading Down 6.2%

Shares of NASDAQ SERV opened at $4.67 on Tuesday. Serve Robotics has a twelve month low of $4.32 and a twelve month high of $18.64. The stock has a 50 day moving average of $5.58 and a two-hundred day moving average of $7.84. The stock has a market cap of $404.94 million, a P/E ratio of -1.91 and a beta of 1.35.

Serve Robotics (NASDAQ:SERV) last announced its earnings results on Thursday, August 6th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.11). The business had revenue of $3.24 million for the quarter, compared to analysts’ expectations of $3.51 million. Serve Robotics had a negative return on equity of 55.34% and a negative net margin of 2,315.80%. As a group, research analysts predict that Serve Robotics will post -2.71 earnings per share for the current year.

Insider Buying and Selling

In other Serve Robotics news, Director David Michael Goldberg sold 10,600 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $7.20, for a total transaction of $76,320.00. Following the completion of the sale, the director directly owned 35,125 shares of the company’s stock, valued at approximately $252,900. This trade represents a 23.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Touraj Parang sold 37,993 shares of Serve Robotics stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $4.55, for a total value of $172,868.15. Following the completion of the transaction, the chief operating officer owned 1,260,251 shares in the company, valued at $5,734,142.05. This trade represents a 2.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 156,420 shares of company stock valued at $818,258 in the last quarter. 5.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Serve Robotics

A number of hedge funds and other institutional investors have recently bought and sold shares of SERV. FNY Investment Advisers LLC purchased a new position in Serve Robotics during the 2nd quarter worth $26,000. Allworth Financial LP acquired a new stake in shares of Serve Robotics in the 2nd quarter worth $26,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Serve Robotics in the 4th quarter worth $31,000. Quadrant Capital Group LLC purchased a new stake in shares of Serve Robotics in the fourth quarter valued at about $31,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of 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.

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.