Serve Robotics (NASDAQ:SERV) CFO Brian Read Sells 6,700 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read sold 6,700 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer owned 337,199 shares of the company’s stock, valued at approximately $4,434,166.85. This trade represents a 1.95% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Brian Read also recently made the following trade(s):

• On Thursday, December 11th, Brian Read sold 371 shares of Serve Robotics stock. The stock was sold at an average price of $11.87, for a total value of $4,403.77.
• On Thursday, December 4th, Brian Read sold 7,500 shares of Serve Robotics stock. The stock was sold at an average price of $13.05, for a total transaction of $97,875.00.
• On Tuesday, December 2nd, Brian Read sold 2,057 shares of Serve Robotics stock. The shares were sold at an average price of $9.82, for a total transaction of $20,199.74.
• On Thursday, October 30th, Brian Read sold 1,270 shares of Serve Robotics stock. The shares were sold at an average price of $13.32, for a total value of $16,916.40.
• On Tuesday, October 7th, Brian Read sold 176 shares of Serve Robotics stock. The stock was sold at an average price of $15.29, for a total transaction of $2,691.04.
• On Tuesday, September 30th, Brian Read sold 1,225 shares of Serve Robotics stock. The shares were sold at an average price of $11.70, for a total transaction of $14,332.50.
• On Thursday, September 18th, Brian Read sold 3,941 shares of Serve Robotics stock. The stock was sold at an average price of $12.70, for a total value of $50,050.70.

Serve Robotics Price Performance

SERV opened at $10.97 on Tuesday. Serve Robotics Inc. has a 1 year low of $4.66 and a 1 year high of $24.35. The company has a market capitalization of $817.05 million, a PE ratio of -7.36 and a beta of -0.10. The business has a fifty day simple moving average of $12.26 and a 200 day simple moving average of $11.55.

Serve Robotics (NASDAQ:SERV) last released its earnings results 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). The company had revenue of $0.69 million for the quarter, compared to analyst estimates of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. Equities analysts anticipate that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Serve Robotics

Several institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC bought a new stake in shares of Serve Robotics in the third quarter worth about $27,000. Allworth Financial LP increased its holdings in Serve Robotics by 316.7% during the second quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock valued at $45,000 after buying an additional 2,964 shares during the period. SBI Securities Co. Ltd. grew its stake in Serve Robotics by 166.8% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock worth $49,000 after buying an additional 2,637 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in Serve Robotics during the 2nd quarter valued at about $55,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Serve Robotics during the 3rd quarter worth about $59,000.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Northland Securities set a $26.00 price target on shares of Serve Robotics in a report on Monday, October 13th. Citigroup reaffirmed an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Wedbush began coverage on Serve Robotics in a research note on Wednesday, August 27th. They set an “outperform” rating and a $15.00 target price for the company. Finally, Singular Research upgraded shares of Serve Robotics to a “moderate buy” rating in a research note on Tuesday, August 26th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.33.

Serve Robotics Company Profile

Serve Robotics Inc designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc in July 2023.