Serve Robotics (NASDAQ:SERV) Shares Up 3.7% – Here’s What Happened

Shares of Serve Robotics Inc. (NASDAQ:SERV) shot up 3.7% on Tuesday . The stock traded as high as $10.54 and last traded at $10.1740. 2,200,695 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 7,967,788 shares. The stock had previously closed at $9.81.

Analyst Upgrades and Downgrades

SERV has been the topic of several research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday, December 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Serve Robotics in a report on Monday, November 17th. Northland Securities set a $26.00 target price on shares of Serve Robotics in a research report on Monday, October 13th. LADENBURG THALM/SH SH upgraded shares of Serve Robotics to a “strong-buy” rating in a report on Thursday, December 18th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Serve Robotics in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

Serve Robotics Price Performance

The business has a 50-day moving average of $11.22 and a two-hundred day moving average of $11.43. The company has a market cap of $769.01 million, a P/E ratio of -6.91 and a beta of -0.10.

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

Insider Activity

In related news, insider Euan Abraham sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $17.99, for a total transaction of $449,750.00. Following the completion of the sale, the insider owned 250,539 shares of the company’s stock, valued at $4,507,196.61. This represents a 9.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ali Kashani sold 16,730 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $11.87, for a total transaction of $198,585.10. Following the completion of the sale, the chief executive officer owned 3,374,862 shares of the company’s stock, valued at approximately $40,059,611.94. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 224,670 shares of company stock worth $2,813,321 over the last 90 days. 21.40% of the stock is currently owned by insiders.

Institutional Trading of Serve Robotics

A number of institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC acquired a new position in Serve Robotics during the 3rd quarter valued at about $27,000. Allworth Financial LP boosted its holdings in Serve Robotics by 316.7% in the second quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock worth $45,000 after acquiring an additional 2,964 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Serve Robotics by 166.8% during the third quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock worth $49,000 after acquiring an additional 2,637 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Serve Robotics during the second quarter valued at about $55,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Serve Robotics during the third quarter valued at about $59,000.

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.