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

Shares of Serve Robotics Inc. (NASDAQ:SERV) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $19.3333.

SERV has been the topic of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Citigroup reaffirmed an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Singular Research upgraded Serve Robotics to a “moderate buy” rating in a research report on Tuesday, August 26th. Wedbush started coverage on Serve Robotics in a report on Wednesday, August 27th. They set an “outperform” rating and a $15.00 price objective on the stock. Finally, Northland Securities set a $26.00 target price on Serve Robotics in a research report on Monday, October 13th.

Serve Robotics Stock Down 9.6%

SERV stock opened at $9.55 on Thursday. Serve Robotics has a twelve month low of $4.66 and a twelve month high of $24.35. The firm has a market capitalization of $711.28 million, a PE ratio of -6.41 and a beta of -0.14. The stock has a 50-day simple moving average of $12.10 and a two-hundred day simple moving average of $11.53.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.17). The firm had revenue of $0.69 million for the quarter, compared to analysts’ expectations of $0.69 million. Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. On average, equities research analysts anticipate that Serve Robotics will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Serve Robotics

In related news, CFO Brian Read sold 6,700 shares of Serve Robotics stock in a transaction on Friday, December 12th. The shares were sold at an average price of $13.15, for a total value of $88,105.00. Following the transaction, the chief financial officer owned 337,199 shares in the company, valued at $4,434,166.85. This trade represents a 1.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ali Kashani sold 16,730 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $11.87, for a total transaction of $198,585.10. Following the completion of the sale, the chief executive officer directly owned 3,374,862 shares of the company’s stock, valued at $40,059,611.94. This represents a 0.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 255,895 shares of company stock valued at $3,270,304. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SERV. Farther Finance Advisors LLC bought a new stake in shares of Serve Robotics in the 3rd quarter valued at about $27,000. Allworth Financial LP grew its position in 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 acquiring an additional 2,964 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in 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 period. Ameritas Investment Partners Inc. bought a new stake in Serve Robotics in the second quarter valued at approximately $55,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Serve Robotics during the third quarter valued at approximately $59,000.

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.