Serve Robotics (NASDAQ:SERV) Shares Up 7.6% – Here’s Why

Serve Robotics Inc. (NASDAQ:SERV)’s share price was up 7.6% on Monday . The stock traded as high as $9.89 and last traded at $9.81. Approximately 1,466,954 shares traded hands during trading, a decline of 75% from the average daily volume of 5,887,158 shares. The stock had previously closed at $9.12.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Northland Securities restated an “outperform” rating and set a $26.00 price objective on shares of Serve Robotics in a research note on Friday, January 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday, December 29th. LADENBURG THALM/SH SH upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. Loop Capital set a $16.00 price target on shares of Serve Robotics in a research note on Wednesday, December 31st. Finally, Cantor Fitzgerald decreased their price objective on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $18.60.

Serve Robotics Stock Down 2.3%

The company has a 50 day moving average of $11.15 and a two-hundred day moving average of $11.63. The firm has a market cap of $728.14 million, a P/E ratio of -6.05 and a beta of 0.90.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings results on Wednesday, March 11th. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.03. Serve Robotics had a negative net margin of 3,821.98% and a negative return on equity of 38.54%. The company had revenue of $0.88 million during the quarter, compared to the consensus estimate of $0.77 million. Research analysts expect that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at Serve Robotics

In related news, insider Anthony Armenta sold 3,567 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $9.82, for a total transaction of $35,027.94. Following the completion of the sale, the insider directly owned 540,919 shares in the company, valued at approximately $5,311,824.58. This trade represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Euan Abraham sold 3,284 shares of Serve Robotics stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $10.33, for a total transaction of $33,923.72. Following the completion of the transaction, the insider owned 238,412 shares in the company, valued at approximately $2,462,795.96. This trade represents a 1.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 95,604 shares of company stock valued at $1,067,547. Corporate insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its position in shares of Serve Robotics by 527.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 52,874 shares of the company’s stock worth $549,000 after purchasing an additional 44,442 shares during the period. Walser Wealth Management Company A Ltd Liability Co acquired a new position in shares of Serve Robotics in the 4th quarter valued at $115,000. Invesco Ltd. increased its stake in Serve Robotics by 43.1% in the 4th quarter. Invesco Ltd. now owns 35,433 shares of the company’s stock worth $368,000 after purchasing an additional 10,678 shares in the last quarter. Creek Drive Management Group LLC purchased a new position in Serve Robotics in the 4th quarter worth about $4,912,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Serve Robotics during the 4th quarter worth about $106,000.

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.