Serve Robotics (NASDAQ:SERV) Director David Michael Goldberg Sells 10,600 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) Director David Michael Goldberg sold 10,600 shares of Serve Robotics stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $7.20, for a total transaction of $76,320.00. Following the completion of the transaction, the director owned 35,125 shares of the company’s stock, valued at $252,900. This represents a 23.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Serve Robotics Stock Performance

Shares of SERV opened at $6.99 on Friday. The stock has a market capitalization of $540.82 million, a price-to-earnings ratio of -3.48 and a beta of 0.53. Serve Robotics Inc. has a 52-week low of $6.49 and a 52-week high of $18.64. The stock’s 50-day simple moving average is $8.60 and its 200 day simple moving average is $10.02.

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

Institutional Investors Weigh In On Serve Robotics

Hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its holdings in shares of Serve Robotics by 280.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company’s stock worth $1,709,000 after purchasing an additional 219,018 shares in the last quarter. Creative Planning lifted its position in Serve Robotics by 25.9% in the 2nd quarter. Creative Planning now owns 12,923 shares of the company’s stock worth $148,000 after buying an additional 2,655 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Serve Robotics by 294.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 29,905 shares of the company’s stock worth $342,000 after buying an additional 22,320 shares during the last quarter. Rhumbline Advisers purchased a new stake in Serve Robotics in the second quarter worth approximately $767,000. Finally, American Century Companies Inc. bought a new position in Serve Robotics during the second quarter valued at approximately $122,000.

Wall Street Analyst Weigh In

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

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.