Hsbc Holdings PLC Takes $1.06 Million Position in Serve Robotics Inc. $SERV

Hsbc Holdings PLC acquired a new position in shares of Serve Robotics Inc. (NASDAQ:SERV) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 102,250 shares of the company’s stock, valued at approximately $1,061,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SERV. Goldman Sachs Group Inc. raised its stake in Serve Robotics by 280.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company’s stock valued at $1,709,000 after acquiring an additional 219,018 shares in the last quarter. Creative Planning boosted its position in Serve Robotics by 25.9% during the 2nd 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. JPMorgan Chase & Co. grew its stake in shares of Serve Robotics by 294.3% in the second quarter. JPMorgan Chase & Co. now owns 29,905 shares of the company’s stock worth $342,000 after purchasing an additional 22,320 shares in the last quarter. Rhumbline Advisers bought a new position in shares of Serve Robotics in the second quarter worth $767,000. Finally, American Century Companies Inc. acquired a new position in shares of Serve Robotics during the second quarter valued at $122,000.

Serve Robotics Stock Down 2.2%

NASDAQ:SERV opened at $5.79 on Tuesday. The business’s 50-day moving average price is $7.60 and its 200 day moving average price is $9.40. Serve Robotics Inc. has a 52-week low of $5.63 and a 52-week high of $18.64. The firm has a market cap of $447.97 million, a P/E ratio of -2.88 and a beta of 1.04.

Serve Robotics (NASDAQ:SERV) last issued 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). Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. The business had revenue of $2.98 million during the quarter, compared to analyst estimates of $2.83 million. Sell-side analysts expect that Serve Robotics Inc. will post -2.67 EPS for the current year.

Insider Buying and Selling at Serve Robotics

In related news, CFO Brian Read sold 2,790 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 318,768 shares of the company’s stock, valued at $2,961,354.72. This represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ali Kashani sold 15,885 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total transaction of $115,007.40. Following the sale, the chief executive officer owned 3,278,091 shares of the company’s stock, valued at $23,733,378.84. The trade was a 0.48% decrease in their ownership of the stock. 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 72,648 shares of company stock valued at $607,904 over the last quarter. Company insiders own 5.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. LADENBURG THALM/SH SH lifted their price objective on shares of Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Freedom Capital cut shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. 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 report on Tuesday, March 17th. Guggenheim initiated coverage on shares of Serve Robotics in a research note on Monday, April 20th. They issued a “buy” rating and a $13.00 price target for the company. Finally, Weiss Ratings upgraded shares of Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 17th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Serve Robotics has a consensus rating of “Moderate Buy” and an average price target of $17.51.

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.