Serve Robotics (NASDAQ:SERV) Trading Up 10.6% – Time to Buy?

Shares of Serve Robotics Inc. (NASDAQ:SERV) traded up 10.6% during trading on Monday . The stock traded as high as $9.74 and last traded at $9.58. 5,616,236 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 8,120,961 shares. The stock had previously closed at $8.66.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SERV. Seaport Res Ptn cut shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 11th. Wedbush started coverage on shares of Serve Robotics in a report on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 target price for the company. Citigroup reiterated an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a research report on Monday, November 17th. Finally, Northland Securities set a $26.00 price objective on Serve Robotics in a research note on Monday, October 13th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.33.

Serve Robotics Stock Performance

The company has a market cap of $713.52 million, a PE ratio of -6.43 and a beta of -0.79. The stock’s 50-day simple moving average is $12.59 and its 200 day simple moving average is $11.44.

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). Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. The firm had revenue of $0.69 million during the quarter, compared to analysts’ expectations of $0.69 million. Serve Robotics has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts predict that Serve Robotics Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In other Serve Robotics news, insider Anthony Armenta sold 49,082 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $9.32, for a total transaction of $457,444.24. Following the transaction, the insider owned 560,037 shares in the company, valued at approximately $5,219,544.84. The trade was a 8.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ali Kashani sold 16,170 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $10.78, for a total value of $174,312.60. Following the transaction, the chief executive officer directly owned 3,391,592 shares of the company’s stock, valued at approximately $36,561,361.76. This trade represents a 0.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 458,709 shares of company stock worth $5,301,845 in the last three months. Company insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC acquired a new position in shares of Serve Robotics during the 3rd quarter worth $27,000. Allworth Financial LP grew its position in Serve Robotics by 316.7% during the second quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock worth $45,000 after buying an additional 2,964 shares during the period. SBI Securities Co. Ltd. grew its position in Serve Robotics by 166.8% during the third quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock worth $49,000 after buying an additional 2,637 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Serve Robotics in the second quarter valued at about $55,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Serve Robotics during the 3rd quarter valued at approximately $59,000.

About Serve Robotics

Serve Robotics Inc designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc in July 2023.