Serve Robotics (NASDAQ:SERV) Stock Price Down 5.2% – Here’s What Happened

Shares of Serve Robotics Inc. (NASDAQ:SERV) traded down 5.2% on Friday . The company traded as low as $10.05 and last traded at $10.14. 3,500,443 shares traded hands during trading, a decline of 56% from the average session volume of 8,007,023 shares. The stock had previously closed at $10.70.

Analyst Upgrades and Downgrades

Several research firms have commented on SERV. Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a research report on Monday. Oppenheimer initiated coverage on Serve Robotics in a research note on Thursday, December 18th. They set an “outperform” rating and a $20.00 price target on the stock. LADENBURG THALM/SH SH upgraded Serve Robotics to a “strong-buy” rating in a research note on Thursday, December 18th. Northland Securities set a $26.00 target price on Serve Robotics in a research report on Monday, October 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Serve Robotics Stock Down 5.2%

The firm has a market capitalization of $755.23 million, a PE ratio of -6.81 and a beta of -0.14. The stock has a 50-day moving average price of $11.40 and a 200 day moving average price of $11.48.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.17). The company had revenue of $0.69 million during the quarter, compared to analyst estimates of $0.69 million. Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. As a group, equities analysts predict that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Serve Robotics

In other news, insider Anthony Armenta sold 49,082 shares of Serve Robotics stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $9.32, for a total value of $457,444.24. Following the sale, the insider directly owned 560,037 shares of the company’s stock, valued at $5,219,544.84. The trade was a 8.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Touraj Parang sold 9,500 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $11.78, for a total value of $111,910.00. Following the completion of the transaction, the chief operating officer directly owned 1,351,091 shares of the company’s stock, valued at approximately $15,915,851.98. This represents a 0.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 225,895 shares of company stock worth $2,827,654 in the last three months. 5.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Serve Robotics

A number of large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Serve Robotics by 13.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company’s stock worth $73,000 after buying an additional 1,545 shares in the last quarter. Swiss National Bank purchased a new position in Serve Robotics in the 1st quarter worth approximately $305,000. PEAK6 LLC boosted its holdings in shares of Serve Robotics by 377.7% during the 1st quarter. PEAK6 LLC now owns 15,314 shares of the company’s stock worth $88,000 after purchasing an additional 20,829 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Serve Robotics in the first quarter valued at approximately $2,064,000. Finally, Bosun Asset Management LLC acquired a new stake in shares of Serve Robotics in the first quarter valued at approximately $129,000.

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.