Serve Robotics (NASDAQ:SERV) Trading Down 1.5% – Time to Sell?

Serve Robotics Inc. (NASDAQ:SERV)’s share price dropped 1.5% during trading on Tuesday . The stock traded as low as $10.52 and last traded at $10.86. Approximately 3,618,377 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 8,048,660 shares. The stock had previously closed at $11.02.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Citigroup reissued an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Wedbush started coverage on shares of Serve Robotics in a research report on Wednesday, August 27th. They set an “outperform” rating and a $15.00 price target for the company. LADENBURG THALM/SH SH raised shares of Serve Robotics to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Serve Robotics presently has an average rating of “Moderate Buy” and a consensus price target of $19.50.

Serve Robotics Trading Down 1.2%

The stock has a market capitalization of $799.17 million, a price-to-earnings ratio of -7.20 and a beta of -0.14. The firm has a 50-day moving average of $11.50 and a 200 day moving average of $11.48.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings data 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). The firm had revenue of $0.69 million for the quarter, compared to analysts’ expectations of $0.69 million. Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. As a group, research analysts forecast that Serve Robotics Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling

In related news, COO Touraj Parang sold 9,500 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $11.78, for a total value of $111,910.00. Following the completion of the transaction, the chief operating officer owned 1,351,091 shares of the company’s stock, valued at approximately $15,915,851.98. This represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Euan Abraham sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $17.99, for a total value of $449,750.00. Following the sale, the insider owned 250,539 shares of the company’s stock, valued at approximately $4,507,196.61. This trade represents a 9.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 225,895 shares of company stock worth $2,827,654 over the last quarter. Company insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Serve Robotics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC bought a new stake in shares of Serve Robotics in the third quarter worth $27,000. Allworth Financial LP grew its stake in Serve Robotics by 316.7% in the second 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. increased its holdings in Serve Robotics by 166.8% in the third quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock valued at $49,000 after buying an additional 2,637 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Serve Robotics during the second quarter valued at approximately $55,000. Finally, Russell Investments Group Ltd. bought a new position in Serve Robotics during the 3rd quarter worth approximately $59,000.

Serve Robotics Company Profile

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.