Serve Robotics (NASDAQ:SERV) Insider Euan Abraham Sells 1,480 Shares

Serve Robotics Inc. (NASDAQ:SERV) insider Euan Abraham sold 1,480 shares of the business’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $15.19, for a total transaction of $22,481.20. Following the transaction, the insider owned 250,539 shares in the company, valued at approximately $3,805,687.41. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Euan Abraham also recently made the following trade(s):

• On Friday, September 19th, Euan Abraham sold 25,000 shares of Serve Robotics stock. The stock was sold at an average price of $14.99, for a total transaction of $374,750.00.
• On Thursday, September 18th, Euan Abraham sold 8,433 shares of Serve Robotics stock. The stock was sold at an average price of $12.38, for a total transaction of $104,400.54.
• On Monday, September 8th, Euan Abraham sold 12,603 shares of Serve Robotics stock. The stock was sold at an average price of $10.60, for a total transaction of $133,591.80.
• On Tuesday, August 5th, Euan Abraham sold 2,130 shares of Serve Robotics stock. The stock was sold at an average price of $10.64, for a total transaction of $22,663.20.

Serve Robotics Trading Down 4.7%

Shares of SERV opened at $14.23 on Wednesday. The company has a market cap of $852.09 million, a price-to-earnings ratio of -12.37 and a beta of -0.70. Serve Robotics Inc. has a 1-year low of $4.66 and a 1-year high of $24.35. The company’s fifty day simple moving average is $11.18 and its 200 day simple moving average is $9.83.

Serve Robotics (NASDAQ:SERV) last issued its earnings results on Thursday, August 7th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.13). The firm had revenue of $0.64 million for the quarter, compared to analyst estimates of $0.63 million. Serve Robotics had a negative return on equity of 36.47% and a negative net margin of 3,726.00%. As a group, research analysts forecast that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Singular Research upgraded shares of Serve Robotics to a “moderate buy” rating in a report on Tuesday, August 26th. Seaport Res Ptn downgraded shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. Wedbush assumed coverage on shares of Serve Robotics in a report on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Serve Robotics has a consensus rating of “Moderate Buy” and an average price target of $17.75.

Institutional Investors Weigh In On Serve Robotics

A number of institutional investors have recently modified their holdings of SERV. Allworth Financial LP boosted its position in shares of Serve Robotics by 316.7% in the second quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock valued at $45,000 after acquiring an additional 2,964 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Serve Robotics in the first quarter valued at about $49,000. KLP Kapitalforvaltning AS bought a new stake in shares of Serve Robotics in the first quarter valued at about $49,000. Ameritas Investment Partners Inc. bought a new stake in shares of Serve Robotics in the second quarter valued at about $55,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Serve Robotics by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company’s stock valued at $73,000 after acquiring an additional 1,545 shares during the period.

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.