Serve Robotics (NASDAQ:SERV) Trading Up 4% – Still a Buy?

Serve Robotics Inc. (NASDAQ:SERV)’s share price was up 4% on Wednesday . The stock traded as high as $10.31 and last traded at $10.10. Approximately 4,220,928 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 8,080,690 shares. The stock had previously closed at $9.71.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Seaport Res Ptn cut shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 11th. Citigroup restated an “outperform” rating on shares of Serve Robotics in a research report on Monday, October 13th. Northland Securities set a $26.00 price target on shares of Serve Robotics in a report on Monday, October 13th. Finally, Wedbush assumed coverage on shares of Serve Robotics in a research report on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.33.

Serve Robotics Price Performance

The firm has a market cap of $752.25 million, a PE ratio of -6.78 and a beta of -0.80. The stock has a 50-day moving average price of $12.55 and a 200 day moving average price of $11.45.

Serve Robotics (NASDAQ:SERV) last released its 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 for the quarter, compared to analysts’ expectations of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. Serve Robotics has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Insider Activity

In other Serve Robotics news, CEO Ali Kashani sold 164,735 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $10.33, for a total transaction of $1,701,712.55. Following the transaction, the chief executive officer owned 3,434,002 shares of the company’s stock, valued at $35,473,240.66. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Evan Dunn sold 20,458 shares of the business’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $15.09, for a total transaction of $308,711.22. Following the sale, the general counsel directly owned 210,309 shares of the company’s stock, valued at $3,173,562.81. This represents a 8.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 458,709 shares of company stock valued at $5,301,845 in the last ninety days. 21.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Serve Robotics

A number of institutional investors have recently added to or reduced their stakes in SERV. Capital Fund Management S.A. purchased a new stake in shares of Serve Robotics during the 1st quarter worth about $4,244,000. Virtu Financial LLC raised its holdings in Serve Robotics by 71.5% in the first quarter. Virtu Financial LLC now owns 59,054 shares of the company’s stock valued at $340,000 after buying an additional 24,614 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Serve Robotics by 616.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company’s stock valued at $3,972,000 after buying an additional 584,302 shares in the last quarter. Bulltick Wealth Management LLC acquired a new position in Serve Robotics during the second quarter valued at approximately $355,000. Finally, Vontobel Holding Ltd. purchased a new stake in Serve Robotics during the second quarter worth approximately $240,000.

About Serve Robotics

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.