Serve Robotics (NASDAQ:SERV) Shares Gap Down – Should You Sell?

Serve Robotics Inc. (NASDAQ:SERV) shares gapped down before the market opened on Tuesday . The stock had previously closed at $14.84, but opened at $13.74. Serve Robotics shares last traded at $13.5370, with a volume of 2,123,922 shares traded.

Analysts Set New Price Targets

SERV has been the topic of several analyst reports. Oppenheimer initiated coverage on shares of Serve Robotics in a research note on Thursday, December 18th. They issued an “outperform” rating and a $20.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Serve Robotics in a report on Monday, November 17th. Loop Capital set a $16.00 target price on Serve Robotics in a research report on Wednesday, December 31st. Citigroup restated an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Serve Robotics currently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Serve Robotics Stock Performance

The company has a market capitalization of $1.02 billion, a PE ratio of -9.18 and a beta of 0.27. The company’s fifty day moving average is $11.40 and its 200-day moving average is $11.69.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.17). The firm had revenue of $0.69 million during the quarter, compared to the consensus estimate of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. On average, sell-side analysts expect that Serve Robotics Inc. will post -0.98 EPS for the current fiscal year.

Insider Activity

In related news, insider Anthony Armenta sold 49,082 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $9.32, for a total value of $457,444.24. Following the sale, the insider directly owned 560,037 shares of the company’s stock, valued at $5,219,544.84. This represents a 8.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian Read sold 7,500 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $13.05, for a total value of $97,875.00. Following the transaction, the chief financial officer owned 344,270 shares of the company’s stock, valued at approximately $4,492,723.50. The trade was a 2.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 185,170 shares of company stock valued at $2,122,739 in the last quarter. 21.40% of the stock is currently owned by company insiders.

Institutional Trading of Serve Robotics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings 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 worth $30,178,000 after purchasing an additional 521,945 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in Serve Robotics by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company’s stock valued at $12,950,000 after acquiring an additional 138,558 shares during the period. Geode Capital Management LLC grew its stake in shares of Serve Robotics by 176.0% during the 2nd quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock worth $10,054,000 after purchasing an additional 560,361 shares during the period. First Trust Advisors LP purchased a new position in shares of Serve Robotics during the 3rd quarter valued at approximately $8,840,000. Finally, Legal & General Group Plc lifted its stake in shares of Serve Robotics by 8.3% in the 3rd quarter. Legal & General Group Plc now owns 751,834 shares of the company’s stock valued at $8,816,000 after purchasing an additional 57,905 shares during the period.

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.