Serve Robotics (NASDAQ:SERV) Trading 10.6% Higher – Still a Buy?

Serve Robotics Inc. (NASDAQ:SERV)’s stock price traded up 10.6% during trading on Monday . The company traded as high as $9.74 and last traded at $9.58. 5,616,236 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 8,120,961 shares. The stock had previously closed at $8.66.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Seaport Res Ptn cut Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 11th. Citigroup restated an “outperform” rating on shares of Serve Robotics in a research report on Monday, October 13th. Northland Securities set a $26.00 price objective on Serve Robotics in a research note on Monday, October 13th. Finally, Singular Research raised Serve Robotics to a “moderate buy” rating in a research report on Tuesday, August 26th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.33.

Serve Robotics Trading Up 4.0%

The stock has a 50 day moving average of $12.51 and a 200-day moving average of $11.44. The stock has a market capitalization of $752.25 million, a P/E ratio of -6.78 and a beta of -0.80.

Serve Robotics (NASDAQ:SERV) last announced 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). 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 during the quarter, compared to the consensus estimate of $0.69 million. Serve Robotics has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. Research analysts anticipate that Serve Robotics Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling

In related news, CEO Ali Kashani sold 164,735 shares of Serve Robotics stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $10.33, for a total transaction of $1,701,712.55. Following the completion of the sale, the chief executive officer owned 3,434,002 shares in the company, valued at $35,473,240.66. This trade represents a 4.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Anthony Armenta sold 49,082 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $9.32, for a total transaction of $457,444.24. Following the completion of the sale, the insider directly owned 560,037 shares of the company’s stock, valued at approximately $5,219,544.84. This trade represents a 8.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 458,709 shares of company stock worth $5,301,845 over the last ninety days. 5.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SERV. Capital Fund Management S.A. bought a new position in shares of Serve Robotics in the 1st quarter worth $4,244,000. Virtu Financial LLC boosted its position in Serve Robotics by 71.5% during the first quarter. Virtu Financial LLC now owns 59,054 shares of the company’s stock valued at $340,000 after purchasing an additional 24,614 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Serve Robotics by 616.9% in the first 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 last quarter. Bulltick Wealth Management LLC bought a new position in Serve Robotics in the second quarter worth about $355,000. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Serve Robotics during the second quarter valued at about $240,000.

About Serve Robotics

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.