Investors Purchase Large Volume of Call Options on Serve Robotics (NASDAQ:SERV)

Serve Robotics Inc. (NASDAQ:SERV) was the recipient of unusually large options trading on Wednesday. Traders acquired 25,354 call options on the company. This is an increase of approximately 64% compared to the average daily volume of 15,467 call options.

Serve Robotics Trading Down 4.4%

SERV traded down $0.28 during mid-day trading on Wednesday, hitting $6.12. 2,847,740 shares of the stock were exchanged, compared to its average volume of 5,121,074. The company has a market cap of $473.89 million, a PE ratio of -3.05 and a beta of 0.53. The firm’s fifty day moving average is $8.51 and its two-hundred day moving average is $9.94. Serve Robotics has a 1-year low of $6.10 and a 1-year high of $18.64.

Serve Robotics (NASDAQ:SERV) last announced its earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.08). The business had revenue of $2.98 million for the quarter, compared to analysts’ expectations of $2.83 million. Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%. As a group, research analysts anticipate that Serve Robotics will post -2.51 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Touraj Parang sold 4,219 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total value of $30,545.56. Following the transaction, the chief operating officer directly owned 1,298,244 shares of the company’s stock, valued at approximately $9,399,286.56. This represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ali Kashani sold 15,885 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total transaction of $115,007.40. Following the completion of the transaction, the chief executive officer owned 3,278,091 shares in the company, valued at approximately $23,733,378.84. This trade represents a 0.48% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 91,250 shares of company stock worth $768,253 in the last three months. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SERV. Goldman Sachs Group Inc. boosted its position in shares of Serve Robotics by 280.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company’s stock worth $1,709,000 after acquiring an additional 219,018 shares in the last quarter. Creative Planning raised its position in shares of Serve Robotics by 25.9% during the 2nd quarter. Creative Planning now owns 12,923 shares of the company’s stock worth $148,000 after acquiring an additional 2,655 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Serve Robotics by 294.3% during the second quarter. JPMorgan Chase & Co. now owns 29,905 shares of the company’s stock worth $342,000 after purchasing an additional 22,320 shares during the last quarter. Rhumbline Advisers purchased a new stake in Serve Robotics during the second quarter worth approximately $767,000. Finally, American Century Companies Inc. acquired a new position in Serve Robotics in the second quarter valued at approximately $122,000.

Analyst Upgrades and Downgrades

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

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.