Ali Kashani Sells 13,310 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 13,310 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $11.63, for a total transaction of $154,795.30. Following the transaction, the chief executive officer directly owned 3,407,762 shares in the company, valued at approximately $39,632,272.06. This represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ali Kashani also recently made the following trade(s):

• On Thursday, November 6th, Ali Kashani sold 16,170 shares of Serve Robotics stock. The stock was sold at an average price of $10.78, for a total value of $174,312.60.
• On Tuesday, October 7th, Ali Kashani sold 12,930 shares of Serve Robotics stock. The stock was sold at an average price of $15.08, for a total value of $194,984.40.
• On Monday, September 8th, Ali Kashani sold 164,735 shares of Serve Robotics stock. The shares were sold at an average price of $10.33, for a total transaction of $1,701,712.55.

Serve Robotics Stock Performance

Shares of NASDAQ SERV opened at $10.70 on Friday. The stock has a market cap of $640.72 million, a price-to-earnings ratio of -9.30 and a beta of -0.80. Serve Robotics Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $24.35. The firm’s 50-day simple moving average is $12.90 and its 200 day simple moving average is $11.09.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.13). Serve Robotics had a negative return on equity of 36.47% and a negative net margin of 3,726.00%.The firm had revenue of $0.64 million for the quarter, compared to analysts’ expectations of $0.63 million. On average, sell-side analysts predict that Serve Robotics Inc. will post -0.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on SERV shares. Seaport Res Ptn cut shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Monday, August 11th. Singular Research upgraded shares of Serve Robotics to a “moderate buy” rating in a research note on Tuesday, August 26th. Wedbush initiated coverage on Serve Robotics in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a report on Wednesday. Finally, Northland Securities set a $26.00 price target on Serve Robotics in a research report on Monday, October 13th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.33.

Institutional Trading of Serve Robotics

Several hedge funds have recently added to or reduced their stakes in the stock. Capital Fund Management S.A. bought a new stake in shares of Serve Robotics in the first quarter valued at $4,244,000. Virtu Financial LLC increased its holdings in Serve Robotics by 71.5% in the 1st quarter. Virtu Financial LLC now owns 59,054 shares of the company’s stock worth $340,000 after acquiring an additional 24,614 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Serve Robotics by 616.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company’s stock valued at $3,972,000 after acquiring an additional 584,302 shares during the period. Vontobel Holding Ltd. purchased a new stake in Serve Robotics during the second quarter valued at about $240,000. Finally, Exchange Traded Concepts LLC lifted its holdings in Serve Robotics by 12.9% during the second quarter. Exchange Traded Concepts LLC now owns 996,283 shares of the company’s stock valued at $11,397,000 after purchasing an additional 113,761 shares during the last quarter.

Serve Robotics Company Profile

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.