Serve Robotics (NASDAQ:SERV) Shares Down 3.3% – Time to Sell?

Shares of Serve Robotics Inc. (NASDAQ:SERV) were down 3.3% during mid-day trading on Monday . The company traded as low as $9.77 and last traded at $9.81. Approximately 4,038,349 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 7,991,222 shares. The stock had previously closed at $10.14.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SERV. Oppenheimer began coverage on Serve Robotics in a report on Thursday, December 18th. They issued an “outperform” rating and a $20.00 target price on the stock. LADENBURG THALM/SH SH upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Thursday, December 18th. Northland Securities set a $26.00 target price on shares of Serve Robotics in a research report on Monday, October 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Finally, Citigroup reiterated an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.50.

Serve Robotics Stock Down 3.3%

The stock has a market capitalization of $730.65 million, a PE ratio of -6.58 and a beta of -0.10. The stock’s 50 day moving average price is $11.32 and its 200-day moving average price is $11.45.

Serve Robotics (NASDAQ:SERV) last issued its earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.17). The firm had revenue of $0.69 million during the quarter, compared to the consensus estimate of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. On average, analysts forecast that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Brian Read sold 6,700 shares of Serve Robotics stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $13.15, for a total transaction of $88,105.00. Following the sale, the chief financial officer owned 337,199 shares in the company, valued at $4,434,166.85. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ali Kashani sold 16,730 shares of the business’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $11.87, for a total transaction of $198,585.10. Following the completion of the transaction, the chief executive officer directly owned 3,374,862 shares in the company, valued at $40,059,611.94. This trade represents a 0.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 225,895 shares of company stock worth $2,827,654. Company insiders own 21.40% of the company’s stock.

Institutional Trading of Serve Robotics

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its position in shares of Serve Robotics by 13.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company’s stock valued at $73,000 after purchasing an additional 1,545 shares in the last quarter. PEAK6 LLC boosted its stake in Serve Robotics by 377.7% during the first quarter. PEAK6 LLC now owns 15,314 shares of the company’s stock valued at $88,000 after buying an additional 20,829 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Serve Robotics during the 1st quarter valued at approximately $2,064,000. Bosun Asset Management LLC bought a new stake in Serve Robotics in the 1st quarter worth approximately $129,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Serve Robotics by 616.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company’s stock worth $3,972,000 after acquiring an additional 584,302 shares in 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.