Serve Robotics (NASDAQ:SERV) Hits New 12-Month Low – Here’s What Happened

Serve Robotics Inc. (NASDAQ:SERV) reached a new 52-week low on Tuesday . The stock traded as low as $6.66 and last traded at $6.6850, with a volume of 2846548 shares changing hands. The stock had previously closed at $7.22.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Freedom Capital downgraded Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. LADENBURG THALM/SH SH lifted their price objective on Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Guggenheim assumed coverage on Serve Robotics in a research report on Monday, April 20th. They set a “buy” rating and a $13.00 price objective on the stock. Weiss Ratings downgraded Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Finally, Cantor Fitzgerald reduced their price objective 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. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Serve Robotics currently has an average rating of “Moderate Buy” and a consensus target price of $17.51.

Serve Robotics Price Performance

The firm has a 50 day simple moving average of $8.70 and a 200-day simple moving average of $10.10. The company has a market cap of $518.77 million, a price-to-earnings ratio of -3.33 and a beta of 0.55.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) 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 analyst estimates of $2.83 million. Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%. Research analysts anticipate that Serve Robotics Inc. will post -2.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Serve Robotics news, COO Touraj Parang sold 4,219 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total transaction of $30,545.56. Following the completion of the sale, the chief operating officer owned 1,298,244 shares of the company’s stock, valued at $9,399,286.56. This trade represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Read sold 2,790 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $9.29, for a total value of $25,919.10. Following the sale, the chief financial officer directly owned 318,768 shares of the company’s stock, valued at approximately $2,961,354.72. This trade represents a 0.87% 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 80,650 shares of company stock valued at $691,933 over the last quarter. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Serve Robotics

Institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC acquired a new stake in shares of Serve Robotics in the fourth quarter valued at $31,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Serve Robotics in the fourth quarter valued at $31,000. EverSource Wealth Advisors LLC grew its stake in shares of Serve Robotics by 299.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after buying an additional 2,392 shares in the last quarter. CWM LLC grew its stake in shares of Serve Robotics by 514.1% in the fourth quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after buying an additional 2,879 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of Serve Robotics by 149.3% in the fourth quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock valued at $39,000 after buying an additional 2,240 shares in 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.