Serve Robotics (NASDAQ:SERV) Sets New 1-Year Low – Here’s Why

Serve Robotics Inc. (NASDAQ:SERV) hit a new 52-week low on Tuesday . The company traded as low as $6.66 and last traded at $6.6850, with a volume of 2846548 shares changing hands. The stock had previously closed at $7.22.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SERV shares. Weiss Ratings cut Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. LADENBURG THALM/SH SH raised their price objective on Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a report on Wednesday, May 13th. Freedom Capital cut Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Guggenheim started coverage on Serve Robotics in a report on Monday, April 20th. They set a “buy” rating and a $13.00 price objective on the stock. Finally, Cantor Fitzgerald decreased their price objective on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.51.

Serve Robotics Trading Up 2.0%

The stock has a 50 day simple moving average of $8.63 and a 200 day simple moving average of $10.05. The firm has a market capitalization of $517.61 million, a PE ratio of -3.33 and a beta of 0.53.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). The company had revenue of $2.98 million during the quarter, compared to analysts’ expectations of $2.83 million. Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%. As a group, equities analysts anticipate that Serve Robotics Inc. will post -2.64 earnings per share for the current year.

Insiders Place Their Bets

In other Serve Robotics news, COO Touraj Parang sold 5,993 shares of Serve Robotics stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $9.29, for a total value of $55,674.97. Following the transaction, the chief operating officer directly owned 1,306,351 shares of the company’s stock, valued at $12,136,000.79. The trade was a 0.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Read sold 2,790 shares of Serve Robotics stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $9.29, for a total value of $25,919.10. Following the completion of the transaction, the chief financial officer directly owned 318,768 shares in the company, valued at $2,961,354.72. This trade represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 80,650 shares of company stock valued at $691,933 in the last ninety days. Company insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

A number of large investors have recently made changes to their positions in the business. Bank of America Corp DE grew its position in shares of Serve Robotics by 42.3% in the 1st quarter. Bank of America Corp DE now owns 154,849 shares of the company’s stock worth $1,307,000 after buying an additional 46,017 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Serve Robotics by 65.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,274 shares of the company’s stock worth $45,000 after buying an additional 2,082 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of Serve Robotics in the 1st quarter worth approximately $270,000. Themes Management Co LLC grew its position in shares of Serve Robotics by 110.0% in the 1st quarter. Themes Management Co LLC now owns 84,703 shares of the company’s stock worth $715,000 after buying an additional 44,377 shares during the last quarter. Finally, Next Capital Management LLC grew its position in shares of Serve Robotics by 60.9% in the 1st quarter. Next Capital Management LLC now owns 26,425 shares of the company’s stock worth $223,000 after buying an additional 10,000 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.