Serve Robotics Inc. (NASDAQ:SERV) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Serve Robotics Inc. (NASDAQ:SERV) have been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $17.5143.

A number of research firms recently weighed in on SERV. Cantor Fitzgerald lowered 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 report on Tuesday, March 17th. Guggenheim began coverage on shares of Serve Robotics in a research report on Monday, April 20th. They set a “buy” rating and a $13.00 price target on the stock. LADENBURG THALM/SH SH boosted their price target on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings lowered shares of Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Finally, Freedom Capital lowered shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th.

Serve Robotics Stock Up 0.6%

SERV stock opened at $6.98 on Thursday. The stock has a market capitalization of $540.06 million, a P/E ratio of -3.47 and a beta of 0.53. The firm has a 50-day simple moving average of $8.77 and a 200-day simple moving average of $10.14. Serve Robotics has a 52 week low of $6.84 and a 52 week high of $18.64.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). The business had revenue of $2.98 million for the quarter, compared to analyst estimates of $2.83 million. Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%. On average, analysts expect that Serve Robotics will post -2.64 earnings per share for the current year.

Insider Buying and Selling at Serve Robotics

In related news, CEO Ali Kashani sold 14,644 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $9.26, for a total transaction of $135,603.44. Following the transaction, the chief executive officer directly owned 3,293,976 shares in the company, valued at approximately $30,502,217.76. The trade was a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Read sold 2,790 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $9.29, for a total transaction of $25,919.10. Following the completion of the transaction, the chief financial officer owned 318,768 shares in the company, valued at $2,961,354.72. The trade was a 0.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 62,617 shares of company stock valued at $570,577. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On Serve Robotics

Institutional investors and hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC acquired a new position in Serve Robotics in the 4th quarter valued at about $31,000. Gordian Capital Singapore Pte Ltd acquired a new position in Serve Robotics in the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC boosted its holdings in Serve Robotics by 299.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after purchasing an additional 2,392 shares during the last quarter. CWM LLC boosted its holdings in Serve Robotics by 514.1% in the 4th quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after purchasing an additional 2,879 shares during the last quarter. Finally, Harbour Investments Inc. boosted its holdings in Serve Robotics by 149.3% in the 4th quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock valued at $39,000 after purchasing an additional 2,240 shares during the last quarter.

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.