Serve Robotics (NASDAQ:SERV) Shares Down 8.4% – Here’s Why

Serve Robotics Inc. (NASDAQ:SERV) fell 8.4% on Friday . The stock traded as low as $8.31 and last traded at $8.3150. 2,619,681 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 5,584,537 shares. The stock had previously closed at $9.08.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Northland Securities reissued an “outperform” rating and set a $26.00 target price on shares of Serve Robotics in a research report on Friday, January 2nd. Oppenheimer started coverage on shares of Serve Robotics in a research report on Thursday, December 18th. They set an “outperform” rating and a $20.00 price target on the stock. Loop Capital set a $16.00 price objective on shares of Serve Robotics in a research report on Wednesday, December 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday, December 29th. Finally, LADENBURG THALM/SH SH upgraded shares of Serve Robotics to a “strong-buy” rating in a report on Thursday, December 18th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $18.60.

Serve Robotics Stock Performance

The firm has a fifty day moving average of $10.40 and a 200 day moving average of $11.56. The firm has a market capitalization of $629.36 million, a PE ratio of -5.23 and a beta of 0.90.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings data on Wednesday, March 11th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.03. The company had revenue of $0.88 million during the quarter, compared to the consensus estimate of $0.77 million. Serve Robotics had a negative net margin of 3,821.98% and a negative return on equity of 38.54%. Research analysts forecast that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Brian Read sold 4,748 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $15.81, for a total value of $75,065.88. Following the transaction, the chief financial officer owned 330,588 shares in the company, valued at approximately $5,226,596.28. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Touraj Parang sold 5,998 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $10.33, for a total value of $61,959.34. Following the completion of the transaction, the chief operating officer directly owned 1,323,685 shares of the company’s stock, valued at $13,673,666.05. This represents a 0.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 95,604 shares of company stock valued at $1,067,547. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Serve Robotics by 25.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock valued at $30,178,000 after purchasing an additional 521,945 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Serve Robotics by 29.1% during the 4th quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company’s stock valued at $15,137,000 after buying an additional 328,405 shares during the last quarter. Exchange Traded Concepts LLC grew its position in shares of Serve Robotics by 12.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company’s stock worth $12,950,000 after buying an additional 138,558 shares in the last quarter. State Street Corp increased its stake in shares of Serve Robotics by 29.5% in the fourth quarter. State Street Corp now owns 1,245,411 shares of the company’s stock worth $12,927,000 after buying an additional 283,497 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Serve Robotics by 34.5% in the fourth quarter. First Trust Advisors LP now owns 1,022,459 shares of the company’s stock worth $10,613,000 after buying an additional 262,348 shares during the last quarter.

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.