Serve Robotics (NASDAQ:SERV) Shares Down 2.7% on Insider Selling

Shares of Serve Robotics Inc. (NASDAQ:SERV) were down 2.7% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $14.30 and last traded at $14.58. Approximately 7,292,267 shares were traded during trading, a decline of 26% from the average daily volume of 9,788,771 shares. The stock had previously closed at $14.99.

Specifically, insider Anthony Armenta sold 3,893 shares of the stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $14.27, for a total value of $55,553.11. Following the completion of the transaction, the insider directly owned 551,141 shares of the company’s stock, valued at $7,864,782.07. This trade represents a 0.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ali Kashani sold 9,088 shares of Serve Robotics stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $14.30, for a total transaction of $129,958.40. Following the completion of the sale, the chief executive officer owned 3,365,774 shares of the company’s stock, valued at $48,130,568.20. This trade represents a 0.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In other Serve Robotics news, COO Touraj Parang sold 4,008 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $14.30, for a total transaction of $57,314.40. Following the transaction, the chief operating officer owned 1,329,683 shares in the company, valued at approximately $19,014,466.90. This represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

SERV has been the topic of a number of research analyst reports. Freedom Capital raised shares of Serve Robotics to a “strong-buy” rating in a report on Wednesday, December 31st. Citigroup reaffirmed an “outperform” rating on shares of Serve Robotics in a research report on Monday, October 13th. Loop Capital set a $16.00 price objective on Serve Robotics in a report on Wednesday, December 31st. LADENBURG THALM/SH SH upgraded Serve Robotics to a “strong-buy” rating in a research note on Thursday, December 18th. Finally, Northland Securities reiterated an “outperform” rating and issued a $26.00 target price on shares of Serve Robotics in a research report on Friday, January 2nd. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.80.

Serve Robotics Stock Down 2.7%

The business’s 50-day simple moving average is $11.16 and its two-hundred day simple moving average is $11.61. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -9.79 and a beta of 0.27.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.17). The business had revenue of $0.69 million during the quarter, compared to analysts’ expectations of $0.69 million. Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. On average, analysts expect that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted 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 valued at $1,709,000 after buying an additional 219,018 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Serve Robotics by 12.9% during the second quarter. Exchange Traded Concepts LLC now owns 996,283 shares of the company’s stock worth $11,397,000 after acquiring an additional 113,761 shares during the period. Vontobel Holding Ltd. purchased a new position in Serve Robotics during the second quarter valued at $240,000. Bogart Wealth LLC grew its position in shares of Serve Robotics by 1,230.6% in the second quarter. Bogart Wealth LLC now owns 11,975 shares of the company’s stock valued at $137,000 after purchasing an additional 11,075 shares during the period. Finally, Next Capital Management LLC acquired a new stake in shares of Serve Robotics in the second quarter valued at about $188,000.

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.