Serve Robotics (NASDAQ:SERV) Trading Up 1.4% – Here’s What Happened

Serve Robotics Inc. (NASDAQ:SERV) traded up 1.4% during mid-day trading on Tuesday . The stock traded as high as $9.83 and last traded at $9.71. 2,762,879 shares changed hands during trading, a decline of 66% from the average session volume of 8,097,617 shares. The stock had previously closed at $9.58.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SERV. Citigroup reiterated an “outperform” rating on shares of Serve Robotics in a research report on Monday, October 13th. Northland Securities set a $26.00 price target on Serve Robotics in a research note on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a report on Monday. Cantor Fitzgerald reissued an “overweight” rating on shares of Serve Robotics in a report on Monday, November 17th. Finally, Wedbush initiated coverage on shares of Serve Robotics in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Serve Robotics presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.33.

Serve Robotics Stock Performance

The firm’s fifty day simple moving average is $12.51 and its 200 day simple moving average is $11.44. The stock has a market capitalization of $752.28 million, a price-to-earnings ratio of -6.78 and a beta of -0.80.

Serve Robotics (NASDAQ:SERV) last released its quarterly 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 company had revenue of $0.69 million during the quarter, compared to analyst estimates of $0.69 million. Serve Robotics has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. Analysts forecast that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Insider Activity

In related news, COO Touraj Parang sold 53,690 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $10.35, for a total transaction of $555,691.50. Following the completion of the transaction, the chief operating officer directly owned 1,365,416 shares in the company, valued at approximately $14,132,055.60. This trade represents a 3.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Anthony Armenta sold 49,082 shares of Serve Robotics stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $9.32, for a total value of $457,444.24. Following the completion of the sale, the insider directly owned 560,037 shares in the company, valued at approximately $5,219,544.84. This represents a 8.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 458,709 shares of company stock worth $5,301,845. 5.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Serve Robotics

Several hedge funds have recently made changes to their positions in the business. Vontobel Holding Ltd. lifted its position in shares of Serve Robotics by 6.7% in the third quarter. Vontobel Holding Ltd. now owns 22,427 shares of the company’s stock worth $261,000 after purchasing an additional 1,417 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Serve Robotics by 13.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company’s stock worth $73,000 after buying an additional 1,545 shares in the last quarter. Creative Planning grew its holdings in shares of Serve Robotics by 14.5% in the 3rd quarter. Creative Planning now owns 14,800 shares of the company’s stock valued at $172,000 after acquiring an additional 1,877 shares in the last quarter. Phoenix Financial Ltd. raised its holdings in Serve Robotics by 13.3% during the third quarter. Phoenix Financial Ltd. now owns 17,000 shares of the company’s stock worth $198,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Thoroughbred Financial Services LLC boosted its position in Serve Robotics by 9.0% during the third quarter. Thoroughbred Financial Services LLC now owns 24,250 shares of the company’s stock valued at $282,000 after purchasing an additional 2,000 shares during the last quarter.

Serve Robotics Company Profile

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.