David Michael Goldberg Sells 10,600 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) Director David Michael Goldberg sold 10,600 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $7.20, for a total value of $76,320.00. Following the completion of the transaction, the director owned 35,125 shares in the company, valued at $252,900. The trade was a 23.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Serve Robotics Price Performance

SERV stock opened at $6.99 on Friday. The firm has a market cap of $540.84 million, a PE ratio of -3.48 and a beta of 0.53. The business has a 50 day moving average of $8.58 and a 200-day moving average of $10.00. Serve Robotics Inc. has a 12-month low of $6.49 and a 12-month high of $18.64.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SERV. Exchange Traded Concepts LLC lifted its holdings in 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 purchasing an additional 138,558 shares in the last quarter. DNB Asset Management AS lifted its holdings in shares of Serve Robotics by 178.9% in the fourth quarter. DNB Asset Management AS now owns 239,205 shares of the company’s stock worth $2,483,000 after buying an additional 153,436 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Serve Robotics in the fourth quarter valued at approximately $1,427,000. Legal & General Group Plc grew its stake in Serve Robotics by 11.7% during the fourth quarter. Legal & General Group Plc now owns 839,933 shares of the company’s stock valued at $8,864,000 after acquiring an additional 88,099 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in Serve Robotics by 97.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 8,332 shares of the company’s stock worth $86,000 after acquiring an additional 4,114 shares during the period.

Analyst Ratings Changes

Several equities analysts recently weighed in on SERV shares. Guggenheim assumed coverage on shares of Serve Robotics in a research report on Monday, April 20th. They set a “buy” rating and a $13.00 price target for the company. Freedom Capital cut shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. LADENBURG THALM/SH SH raised their price target 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 lowered their price target on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Finally, Weiss Ratings upgraded Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.