Serve Robotics (NASDAQ:SERV) Shares Up 3.3% – What’s Next?

Shares of Serve Robotics Inc. (NASDAQ:SERV) shot up 3.3% during mid-day trading on Tuesday . The company traded as high as $13.24 and last traded at $13.10. 8,365,940 shares were traded during trading, a decline of 10% from the average session volume of 9,333,504 shares. The stock had previously closed at $12.68.

Analysts Set New Price Targets

SERV has been the topic of several research analyst reports. LADENBURG THALM/SH SH raised Serve Robotics to a “strong-buy” rating in a research note on Thursday, December 18th. Oppenheimer assumed coverage on shares of Serve Robotics in a report on Thursday, December 18th. They issued an “outperform” rating and a $20.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Freedom Capital upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Wednesday, December 31st. Finally, Loop Capital set a $16.00 target price on shares of Serve Robotics in a research note on Wednesday, December 31st. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned 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, Serve Robotics currently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

Serve Robotics Trading Up 3.3%

The stock has a market capitalization of $975.69 million, a price-to-earnings ratio of -8.79 and a beta of 0.27. The firm has a 50-day moving average of $10.95 and a 200 day moving average of $11.44.

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

Insider Activity

In other Serve Robotics news, insider Anthony Armenta sold 5,003 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $11.96, for a total value of $59,835.88. Following the transaction, the insider owned 555,034 shares in the company, valued at $6,638,206.64. The trade was a 0.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian Read sold 6,700 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $13.15, for a total transaction of $88,105.00. Following the completion of the transaction, the chief financial officer directly owned 337,199 shares of the company’s stock, valued at approximately $4,434,166.85. The trade was a 1.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 186,664 shares of company stock worth $2,230,191. Corporate insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC bought a new stake in shares of Serve Robotics in the third quarter worth $27,000. Allworth Financial LP raised its position in shares of Serve Robotics by 316.7% during the 2nd quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock worth $45,000 after purchasing an additional 2,964 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of Serve Robotics by 166.8% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock worth $49,000 after purchasing an additional 2,637 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Serve Robotics in the 2nd quarter worth approximately $55,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Serve Robotics during the third quarter valued at $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.