Serve Robotics (NASDAQ:SERV) Trading Down 9.4% – Time to Sell?

Serve Robotics Inc. (NASDAQ:SERV) fell 9.4% during trading on Wednesday . The company traded as low as $8.21 and last traded at $8.22. 4,385,093 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 4,970,467 shares. The stock had previously closed at $9.07.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SERV. Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a report on Friday, March 27th. Cantor Fitzgerald cut their price target on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Guggenheim began coverage on shares of Serve Robotics in a report on Monday, April 20th. They issued a “buy” rating and a $13.00 price target on the stock. Freedom Capital cut shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, LADENBURG THALM/SH SH upped their price target on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Seven research analysts have rated the stock with 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.51.

Serve Robotics Stock Performance

The company’s fifty day simple moving average is $8.91 and its 200-day simple moving average is $10.21. The company has a market capitalization of $639.85 million, a P/E ratio of -4.11 and a beta of 0.53.

Serve Robotics (NASDAQ:SERV) last issued its earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.08). Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%.The business had revenue of $2.98 million for the quarter, compared to the consensus estimate of $2.83 million. On average, sell-side analysts predict that Serve Robotics Inc. will post -2.64 EPS for the current year.

Insider Buying and Selling at Serve Robotics

In other Serve Robotics news, CFO Brian Read sold 2,790 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $9.29, for a total transaction of $25,919.10. Following the transaction, the chief financial officer directly owned 318,768 shares in the company, valued at $2,961,354.72. This represents a 0.87% decrease in their position. The sale was disclosed in a legal filing 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, COO Touraj Parang sold 5,993 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $9.29, for a total transaction of $55,674.97. Following the transaction, the chief operating officer owned 1,306,351 shares in the company, valued at approximately $12,136,000.79. The trade was a 0.46% 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 82,170 shares of company stock valued at $760,482 in the last 90 days. Insiders own 5.00% of the company’s stock.

Institutional Trading of Serve Robotics

Several hedge funds have recently modified their holdings of SERV. First Trust Advisors LP purchased a new stake in shares of Serve Robotics during the third quarter valued at about $8,840,000. Vanguard Group Inc. lifted its position in shares of Serve Robotics by 25.2% during the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock valued at $30,178,000 after buying an additional 521,945 shares during the last quarter. Creek Drive Management Group LLC purchased a new stake in shares of Serve Robotics during the fourth quarter valued at about $4,912,000. Geode Capital Management LLC lifted its position in shares of Serve Robotics by 29.1% during the fourth quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company’s stock valued at $15,137,000 after buying an additional 328,405 shares during the last quarter. Finally, Grange Capital LLC purchased a new stake in shares of Serve Robotics during the first quarter valued at about $2,426,000.

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.