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 company’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $17.99, for a total value of $449,750.00. Following the completion of the transaction, the insider owned 250,539 shares in the company, valued at $4,507,196.61. This represents a 9.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, October 7th, Euan Abraham sold 1,480 shares of Serve Robotics stock. The stock was sold at an average price of $15.19, for a total value of $22,481.20.
• On Friday, September 19th, Euan Abraham sold 25,000 shares of Serve Robotics stock. The stock was sold at an average price of $14.99, for a total value of $374,750.00.
• On Thursday, September 18th, Euan Abraham sold 8,433 shares of Serve Robotics stock. The stock was sold at an average price of $12.38, for a total value of $104,400.54.
• On Monday, September 8th, Euan Abraham sold 12,603 shares of Serve Robotics stock. The stock was sold at an average price of $10.60, for a total value 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 value of $22,663.20.

Serve Robotics Stock Down 7.2%

Shares of NASDAQ SERV opened at $14.33 on Friday. The firm has a market capitalization of $858.08 million, a P/E ratio of -12.46 and a beta of -0.70. The stock’s 50-day simple moving average is $12.05 and its two-hundred day simple moving average is $10.34. Serve Robotics Inc. has a twelve month low of $4.66 and a twelve month high of $24.35.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SERV shares. Singular Research upgraded Serve Robotics to a “moderate buy” rating in a research report on Tuesday, August 26th. Seaport Res Ptn lowered Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. Citigroup reiterated an “outperform” rating on shares of Serve Robotics in a research report on Monday, October 13th. Northland Securities set a $26.00 price objective on Serve Robotics in a research report on Monday, October 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Serve Robotics currently has a consensus rating of “Moderate Buy” and an average price target of $18.50.

Institutional Investors Weigh In On Serve Robotics

Several institutional investors have recently bought and sold shares of SERV. PFG Investments LLC boosted its holdings in Serve Robotics by 12.3% during the 1st quarter. PFG Investments LLC now owns 36,498 shares of the company’s stock valued at $210,000 after acquiring an additional 4,000 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Serve Robotics by 82.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,966 shares of the company’s stock worth $109,000 after buying an additional 8,566 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Serve Robotics in the 1st quarter worth approximately $49,000. KLP Kapitalforvaltning AS purchased a new stake in Serve Robotics in the 1st quarter worth approximately $49,000. Finally, Phoenix Financial Ltd. purchased a new stake in Serve Robotics in the 1st quarter worth approximately $87,000.

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.