Serve Robotics (NASDAQ:SERV) Shares Up 2.8% After Analyst Upgrade

Shares of Serve Robotics Inc. (NASDAQ:SERV) traded up 2.8% during trading on Wednesday after Freedom Capital upgraded the stock to a strong-buy rating. The company traded as high as $10.78 and last traded at $10.38. 8,855,605 shares changed hands during mid-day trading, an increase of 11% from the average session volume of 7,988,802 shares. The stock had previously closed at $10.10.

Other equities research analysts have also recently issued research reports about the stock. Oppenheimer initiated coverage on shares of Serve Robotics in a research report on Thursday, December 18th. They set an “outperform” rating and a $20.00 price target for the company. Loop Capital set a $16.00 price objective on shares of Serve Robotics in a research note on Wednesday. LADENBURG THALM/SH SH upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. Northland Securities set a $26.00 price target on Serve Robotics in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

Insider Activity

In other Serve Robotics news, insider Anthony Armenta sold 5,003 shares of the 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 sale, the insider directly owned 555,034 shares in the company, valued at approximately $6,638,206.64. This trade represents a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brian Read sold 6,700 shares of Serve Robotics stock in a transaction on Friday, December 12th. The stock was sold at an average price of $13.15, for a total transaction of $88,105.00. Following the transaction, the chief financial officer directly owned 337,199 shares in the company, valued at approximately $4,434,166.85. This represents a 1.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 226,533 shares of company stock worth $2,832,641 over the last three months. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

Several large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Serve Robotics by 616.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company’s stock valued at $3,972,000 after purchasing an additional 584,302 shares during the period. Bulltick Wealth Management LLC acquired a new stake in Serve Robotics during the 2nd quarter worth approximately $355,000. Vontobel Holding Ltd. bought a new position in Serve Robotics in the second quarter valued at approximately $240,000. Exchange Traded Concepts LLC boosted its holdings in shares of Serve Robotics by 12.9% in the second quarter. Exchange Traded Concepts LLC now owns 996,283 shares of the company’s stock valued at $11,397,000 after buying an additional 113,761 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Serve Robotics in the first quarter valued at approximately $2,064,000.

Serve Robotics Price Performance

The company’s 50-day moving average price is $11.02 and its 200-day moving average price is $11.41. The company has a market cap of $773.10 million, a P/E ratio of -6.97 and a beta of 0.30.

Serve Robotics (NASDAQ:SERV) last posted 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 company had revenue of $0.69 million during the quarter, compared to the consensus estimate 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 predict that Serve Robotics Inc. will post -0.98 EPS for the current year.

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.