Serve Robotics (NASDAQ:SERV) Shares Down 8.4% – Time to Sell?

Serve Robotics Inc. (NASDAQ:SERV)’s stock price traded down 8.4% on Friday . The stock traded as low as $8.31 and last traded at $8.3150. 2,619,681 shares traded hands during trading, a decline of 53% from the average session volume of 5,584,537 shares. The stock had previously closed at $9.08.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Oppenheimer started coverage on shares of Serve Robotics in a report on Thursday, December 18th. They issued an “outperform” rating and a $20.00 price target on the stock. Cantor Fitzgerald dropped their price objective on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Loop Capital set a $16.00 price objective on Serve Robotics in a research report on Wednesday, December 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday, December 29th. Finally, LADENBURG THALM/SH SH upgraded Serve Robotics to a “strong-buy” rating in a report on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $18.60.

Serve Robotics Trading Down 8.4%

The stock has a market cap of $629.36 million, a price-to-earnings ratio of -5.23 and a beta of 0.90. The firm’s 50 day moving average is $10.40 and its two-hundred day moving average is $11.56.

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

Insider Activity

In other Serve Robotics news, insider Anthony Armenta sold 3,567 shares of Serve Robotics stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $9.82, for a total value of $35,027.94. Following the completion of the sale, the insider directly owned 540,919 shares of the company’s stock, valued at approximately $5,311,824.58. The trade was a 0.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Euan Abraham sold 3,284 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $10.33, for a total value of $33,923.72. Following the completion of the transaction, the insider owned 238,412 shares of the company’s stock, valued at $2,462,795.96. This trade represents a 1.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 95,604 shares of company stock valued at $1,067,547 in the last 90 days. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SERV. Farther Finance Advisors LLC purchased a new position in Serve Robotics during the third quarter worth approximately $27,000. Quadrant Capital Group LLC purchased a new stake in shares of Serve Robotics during the 4th quarter valued at $31,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Serve Robotics during the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC raised its position in shares of Serve Robotics by 299.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock worth $33,000 after buying an additional 2,392 shares during the period. Finally, CWM LLC boosted its holdings in Serve Robotics by 514.1% in the fourth quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after acquiring an additional 2,879 shares during 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.