Serve Robotics (NASDAQ:SERV) Insider Euan Abraham Sells 1,840 Shares

Serve Robotics Inc. (NASDAQ:SERV) insider Euan Abraham sold 1,840 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $10.80, for a total value of $19,872.00. Following the transaction, the insider owned 244,784 shares in the company, valued at approximately $2,643,667.20. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Euan Abraham also recently made the following trade(s):

• On Wednesday, November 5th, Euan Abraham sold 3,915 shares of Serve Robotics stock. The stock was sold at an average price of $11.69, for a total value of $45,766.35.
• On Wednesday, October 15th, Euan Abraham sold 25,000 shares of Serve Robotics stock. The stock was sold at an average price of $17.99, for a total value of $449,750.00.
• On Tuesday, October 7th, Euan Abraham sold 1,480 shares of Serve Robotics stock. The stock was sold at an average price of $15.19, for a total value of $22,481.20.
• On Friday, September 19th, Euan Abraham sold 25,000 shares of Serve Robotics stock. The stock was sold at an average price of $14.99, for a total value of $374,750.00.
• On Thursday, September 18th, Euan Abraham sold 8,433 shares of Serve Robotics stock. The stock was sold at an average price of $12.38, for a total value of $104,400.54.
• On Monday, September 8th, Euan Abraham sold 12,603 shares of Serve Robotics stock. The stock was sold at an average price of $10.60, for a total value of $133,591.80.

Serve Robotics Trading Down 8.4%

Shares of SERV stock traded down $0.98 during trading hours on Thursday, reaching $10.70. The company’s stock had a trading volume of 5,900,610 shares, compared to its average volume of 8,224,430. The stock has a market capitalization of $640.74 million, a P/E ratio of -9.30 and a beta of -0.80. Serve Robotics Inc. has a one year low of $4.66 and a one year high of $24.35. The firm’s fifty day simple moving average is $12.91 and its 200 day simple moving average is $11.09.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.13). The business had revenue of $0.64 million during the quarter, compared to the consensus estimate of $0.63 million. Serve Robotics had a negative return on equity of 36.47% and a negative net margin of 3,726.00%. As a group, equities research analysts forecast that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SERV. Wedbush began coverage on Serve Robotics in a research report on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 price objective on the stock. Northland Securities set a $26.00 price objective on Serve Robotics in a research report on Monday, October 13th. Singular Research upgraded Serve Robotics to a “moderate buy” rating in a research note on Tuesday, August 26th. Citigroup restated an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Finally, Seaport Res Ptn cut Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SERV. Wedbush Securities Inc. purchased a new position in Serve Robotics during the third quarter valued at $235,000. Wealthfront Advisers LLC purchased a new position in Serve Robotics during the third quarter valued at $131,000. SBI Securities Co. Ltd. raised its stake in Serve Robotics by 166.8% during the third quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock valued at $49,000 after buying an additional 2,637 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Serve Robotics during the third quarter valued at $138,000. Finally, Jones Financial Companies Lllp raised its stake in Serve Robotics by 117.2% during the third quarter. Jones Financial Companies Lllp now owns 6,632 shares of the company’s stock valued at $77,000 after buying an additional 3,579 shares during the last quarter.

About Serve Robotics

Serve Robotics Inc designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc in July 2023.