Serve Robotics (NASDAQ:SERV) Downgraded to Hold Rating by Freedom Capital

Serve Robotics (NASDAQ:SERV) was downgraded by equities research analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. Cantor Fitzgerald dropped their price target on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. LADENBURG THALM/SH SH lifted their price target on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a research note on Friday, March 27th. Finally, Guggenheim started coverage on shares of Serve Robotics in a research note on Monday, April 20th. They set a “buy” rating and a $13.00 price target on the stock. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $17.51.

Serve Robotics Trading Down 1.5%

NASDAQ:SERV opened at $8.63 on Wednesday. Serve Robotics has a 12 month low of $7.66 and a 12 month high of $18.64. The company has a market cap of $667.73 million, a PE ratio of -4.29 and a beta of 0.96. The company has a 50 day simple moving average of $9.13 and a two-hundred day simple moving average of $10.54.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Thursday, May 7th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.98 million during the quarter, compared to the consensus estimate of $2.83 million. Research analysts forecast that Serve Robotics will post -2.38 earnings per share for the current year.

Insider Transactions at Serve Robotics

In other news, insider Anthony Armenta sold 3,567 shares of Serve Robotics stock in a transaction on Friday, March 13th. The shares were sold at an average price of $9.82, for a total transaction of $35,027.94. Following the transaction, the insider owned 540,919 shares in the company, valued at $5,311,824.58. This trade represents a 0.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ali Kashani sold 14,644 shares of Serve Robotics stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $9.26, for a total transaction of $135,603.44. Following the transaction, the chief executive officer owned 3,293,976 shares in the company, valued at $30,502,217.76. This represents a 0.44% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 86,870 shares of company stock worth $804,859 in the last 90 days. 5.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Quadrant Capital Group LLC purchased a new position in shares of Serve Robotics during the 4th quarter valued at $31,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Serve Robotics during the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC lifted its stake in shares of Serve Robotics by 299.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after buying an additional 2,392 shares in the last quarter. CWM LLC lifted its stake in shares of Serve Robotics by 514.1% during the 4th quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after buying an additional 2,879 shares in the last quarter. Finally, Harbour Investments Inc. lifted its stake in shares of Serve Robotics by 149.3% during the 4th quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock valued at $39,000 after buying an additional 2,240 shares in the last quarter.

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.