Serve Robotics (NASDAQ:SERV) Trading Down 9.4% – Time to Sell?

Serve Robotics Inc. (NASDAQ:SERV)’s stock price dropped 9.4% during trading on Wednesday . The company traded as low as $8.21 and last traded at $8.22. Approximately 4,385,093 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 4,970,467 shares. The stock had previously closed at $9.07.

Analyst Ratings Changes

SERV has been the topic of a number of research analyst reports. Cantor Fitzgerald reduced their target price on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. LADENBURG THALM/SH SH boosted their price objective on Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a report on Wednesday, May 13th. Freedom Capital downgraded Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings downgraded Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Finally, Guggenheim initiated coverage on Serve Robotics in a report on Monday, April 20th. They issued a “buy” rating and a $13.00 price objective on the stock. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Serve Robotics currently has an average rating of “Moderate Buy” and an average price target of $17.51.

Serve Robotics Stock Performance

The company has a market cap of $650.71 million, a price-to-earnings ratio of -4.18 and a beta of 0.53. The business has a 50-day simple moving average of $8.87 and a 200-day simple moving average of $10.19.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%.The firm had revenue of $2.98 million during the quarter, compared to analysts’ expectations of $2.83 million. Research analysts anticipate that Serve Robotics Inc. will post -2.64 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Brian Read sold 2,790 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $9.29, for a total transaction of $25,919.10. Following the completion of the transaction, the chief financial officer directly owned 318,768 shares of the company’s stock, valued at approximately $2,961,354.72. This represents a 0.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Anthony Armenta sold 3,567 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $9.82, for a total value of $35,027.94. Following the transaction, the insider directly owned 540,919 shares of the company’s stock, valued at approximately $5,311,824.58. This represents a 0.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 81,632 shares of company stock valued at $755,403. 5.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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.