Euan Abraham Sells 25,000 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) insider Euan Abraham sold 25,000 shares of the stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $14.99, for a total transaction of $374,750.00. Following the sale, the insider owned 227,019 shares in the company, valued at approximately $3,403,014.81. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Euan Abraham also recently made the following trade(s):

• On Thursday, September 18th, Euan Abraham sold 8,433 shares of Serve Robotics stock. The shares were sold at an average price of $12.38, for a total transaction of $104,400.54.
• On Monday, September 8th, Euan Abraham sold 12,603 shares of Serve Robotics stock. The shares were sold at an average price of $10.60, for a total transaction of $133,591.80.
• On Tuesday, August 5th, Euan Abraham sold 2,130 shares of Serve Robotics stock. The stock was sold at an average price of $10.64, for a total transaction of $22,663.20.

Serve Robotics Stock Down 4.2%

Shares of NASDAQ:SERV opened at $13.17 on Wednesday. The firm has a fifty day moving average of $10.94 and a two-hundred day moving average of $9.45. The firm has a market capitalization of $788.62 million, a P/E ratio of -11.45 and a beta of -0.19. Serve Robotics Inc. has a 12-month low of $4.66 and a 12-month high of $24.35.

Serve Robotics (NASDAQ:SERV) last announced its earnings results on Thursday, August 7th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.13). Serve Robotics had a negative return on equity of 36.47% and a negative net margin of 3,726.00%.The firm had revenue of $0.64 million during the quarter, compared to the consensus estimate of $0.63 million. Equities research analysts expect that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Seaport Res Ptn downgraded shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. Wedbush started coverage on shares of Serve Robotics in a research report on Wednesday, August 27th. They set an “outperform” rating and a $15.00 price objective for the company. Finally, Singular Research raised shares of Serve Robotics to a “moderate buy” rating in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $17.75.

Hedge Funds Weigh In On Serve Robotics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp grew its holdings in shares of Serve Robotics by 178.0% during the 4th quarter. Northern Trust Corp now owns 31,633 shares of the company’s stock valued at $427,000 after purchasing an additional 20,253 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Serve Robotics during the 4th quarter valued at approximately $1,279,000. Man Group plc bought a new stake in shares of Serve Robotics during the 4th quarter valued at approximately $467,000. Tidal Investments LLC grew its holdings in shares of Serve Robotics by 57.6% during the 4th quarter. Tidal Investments LLC now owns 51,846 shares of the company’s stock valued at $700,000 after purchasing an additional 18,948 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Serve Robotics during the 4th quarter valued at approximately $815,000.

Serve Robotics Company Profile

Serve Robotics Inc designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc in July 2023.