Serve Robotics (NASDAQ:SERV) Director Sells $76,320.00 in Stock

Serve Robotics Inc. (NASDAQ:SERV) Director David Michael Goldberg sold 10,600 shares of the firm’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $7.20, for a total transaction of $76,320.00. Following the completion of the sale, the director owned 35,125 shares of the company’s stock, valued at $252,900. The trade was a 23.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Serve Robotics Stock Performance

Shares of SERV stock opened at $6.99 on Friday. The firm has a fifty day simple moving average of $8.58 and a two-hundred day simple moving average of $10.00. Serve Robotics Inc. has a 12 month low of $6.49 and a 12 month high of $18.64. The firm has a market capitalization of $540.82 million, a PE ratio of -3.48 and a beta of 0.53.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Thursday, May 7th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.08). Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%.The business had revenue of $2.98 million for the quarter, compared to the consensus estimate of $2.83 million. On average, equities analysts predict that Serve Robotics Inc. will post -2.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SERV shares. Cantor Fitzgerald dropped their price target on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Weiss Ratings upgraded shares of Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. LADENBURG THALM/SH SH increased their target price on shares of Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Freedom Capital cut shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, Guggenheim began coverage on Serve Robotics in a research report on Monday, April 20th. They set a “buy” rating and a $13.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.51.

Institutional Investors Weigh In On Serve Robotics

Institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC bought a new stake in shares of Serve Robotics in the 4th quarter worth approximately $31,000. Gordian Capital Singapore Pte Ltd bought a new position in Serve Robotics during the 4th quarter worth approximately $31,000. EverSource Wealth Advisors LLC increased its stake in Serve Robotics by 299.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock worth $33,000 after purchasing an additional 2,392 shares during the period. CWM LLC increased its stake in Serve Robotics by 514.1% in the 4th quarter. CWM LLC now owns 3,439 shares of the company’s stock worth $36,000 after purchasing an additional 2,879 shares during the period. Finally, Harbour Investments Inc. raised its holdings in Serve Robotics by 149.3% during the 4th quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock valued at $39,000 after buying an additional 2,240 shares during the last quarter.

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.