Serve Robotics (NASDAQ:SERV) Trading 7.6% Higher – Still a Buy?

Serve Robotics Inc. (NASDAQ:SERV) shares were up 7.6% during trading on Monday . The stock traded as high as $9.89 and last traded at $9.81. Approximately 1,466,954 shares traded hands during trading, a decline of 75% from the average daily volume of 5,887,158 shares. The stock had previously closed at $9.12.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SERV. LADENBURG THALM/SH SH raised Serve Robotics to a “strong-buy” rating in a report on Thursday, December 18th. Freedom Capital upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Wednesday, December 31st. Oppenheimer began coverage on shares of Serve Robotics in a research note on Thursday, December 18th. They set an “outperform” rating and a $20.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Finally, Northland Securities restated an “outperform” rating and issued a $26.00 price objective on shares of Serve Robotics in a research note on Friday, January 2nd. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Serve Robotics presently has a consensus rating of “Buy” and a consensus target price of $18.80.

Serve Robotics Trading Up 7.0%

The company has a market capitalization of $738.66 million, a PE ratio of -6.16 and a beta of 0.92. The firm has a 50 day simple moving average of $11.28 and a two-hundred day simple moving average of $11.65.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings results on Wednesday, March 11th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.03. Serve Robotics had a negative return on equity of 38.54% and a negative net margin of 3,821.98%.The business had revenue of $0.88 million during the quarter, compared to analysts’ expectations of $0.77 million. Research analysts expect that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In other Serve Robotics news, COO Touraj Parang sold 5,998 shares of the company’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $10.33, for a total transaction of $61,959.34. Following the completion of the transaction, the chief operating officer owned 1,323,685 shares in the company, valued at approximately $13,673,666.05. This represents a 0.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ali Kashani sold 13,500 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $9.72, for a total transaction of $131,220.00. Following the completion of the sale, the chief executive officer owned 3,334,914 shares of the company’s stock, valued at $32,415,364.08. This trade represents a 0.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 92,037 shares of company stock worth $1,032,519 in the last 90 days. Corporate insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

A number of institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in Serve Robotics by 280.4% during 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 during the period. Allworth Financial LP lifted its holdings in shares of Serve Robotics by 316.7% in the 2nd quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock valued at $45,000 after buying an additional 2,964 shares during the period. Geode Capital Management LLC boosted its stake in shares of Serve Robotics by 176.0% in the second quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock valued at $10,054,000 after buying an additional 560,361 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Serve Robotics in the second quarter valued at approximately $126,000. Finally, Creative Planning grew its holdings in Serve Robotics by 25.9% during the second quarter. Creative Planning now owns 12,923 shares of the company’s stock worth $148,000 after acquiring an additional 2,655 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.