Serve Robotics (NASDAQ:SERV) Sees Large Volume Increase – Still a Buy?

Shares of Serve Robotics Inc. (NASDAQ:SERV) saw unusually-high trading volume on Thursday . Approximately 9,161,543 shares changed hands during trading, an increase of 19% from the previous session’s volume of 7,709,735 shares.The stock last traded at $15.7220 and had previously closed at $13.47.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. LADENBURG THALM/SH SH raised Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. Citigroup restated an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Oppenheimer assumed coverage on shares of Serve Robotics in a research report on Thursday, December 18th. They issued an “outperform” rating and a $20.00 target price on the stock. Freedom Capital raised shares of Serve Robotics to a “strong-buy” rating in a research report on Wednesday, December 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Serve Robotics currently has an average rating of “Moderate Buy” and an average price target of $18.80.

Serve Robotics Stock Performance

The stock has a fifty day simple moving average of $10.93 and a 200 day simple moving average of $11.47. The firm has a market cap of $1.17 billion, a P/E ratio of -10.46 and a beta of 0.27.

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

Insider Activity at Serve Robotics

In other Serve Robotics news, COO Touraj Parang sold 5,000 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $13.07, for a total value of $65,350.00. Following the transaction, the chief operating officer owned 1,333,691 shares of the company’s stock, valued at approximately $17,431,341.37. This represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian Read sold 6,700 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $13.15, for a total value of $88,105.00. Following the completion of the transaction, the chief financial officer directly owned 337,199 shares in the company, valued at $4,434,166.85. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 187,262 shares of company stock valued at $2,237,852 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Serve Robotics

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

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.