Serve Robotics (NASDAQ:SERV) Stock Price Down 2.7% After Insider Selling

Serve Robotics Inc. (NASDAQ:SERV)’s stock price was down 2.7% on Thursday following insider selling activity. The company traded as low as $14.30 and last traded at $14.58. Approximately 7,292,267 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 9,788,771 shares. The stock had previously closed at $14.99.

Specifically, insider Anthony Armenta sold 3,893 shares of the company’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $14.27, for a total transaction of $55,553.11. Following the completion of the sale, the insider directly owned 551,141 shares in the company, valued at $7,864,782.07. This represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ali Kashani sold 9,088 shares of Serve Robotics stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $14.30, for a total value of $129,958.40. Following the completion of the transaction, the chief executive officer owned 3,365,774 shares in the company, valued at $48,130,568.20. This trade represents a 0.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In other Serve Robotics news, COO Touraj Parang sold 4,008 shares of the stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $14.30, for a total transaction of $57,314.40. Following the completion of the sale, the chief operating officer directly owned 1,329,683 shares of the company’s stock, valued at approximately $19,014,466.90. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Loop Capital set a $16.00 price objective on shares of Serve Robotics in a research report on Wednesday, December 31st. Oppenheimer started coverage on shares of Serve Robotics in a research note on Thursday, December 18th. They issued an “outperform” rating and a $20.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a research report on Monday, December 29th. LADENBURG THALM/SH SH upgraded Serve Robotics to a “strong-buy” rating in a report on Thursday, December 18th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Serve Robotics in a research note on Monday, November 17th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Serve Robotics currently has an average rating of “Moderate Buy” and an average target price of $18.80.

Serve Robotics Stock Performance

The company has a market cap of $1.11 billion, a price-to-earnings ratio of -9.96 and a beta of 0.27. The company’s fifty day moving average is $11.32 and its two-hundred day moving average is $11.65.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $0.69 million for the quarter, compared to analyst estimates of $0.69 million. On average, sell-side analysts anticipate that Serve Robotics Inc. will post -0.98 EPS for the current fiscal year.

Institutional Trading of Serve Robotics

A number of hedge funds have recently modified their holdings of SERV. Farther Finance Advisors LLC purchased a new position in Serve Robotics during the third quarter valued at approximately $27,000. Allworth Financial LP boosted its position in Serve Robotics by 316.7% in 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 in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of 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 purchasing an additional 2,637 shares during the period. Ameritas Investment Partners Inc. purchased a new position in shares of Serve Robotics during the 2nd quarter valued at approximately $55,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Serve Robotics during the 3rd quarter valued at approximately $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.