Serve Robotics (NASDAQ:SERV) Insider Sells $59,835.88 in Stock

Serve Robotics Inc. (NASDAQ:SERV) insider Anthony Armenta sold 5,003 shares of Serve Robotics stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $11.96, for a total value of $59,835.88. Following the transaction, the insider owned 555,034 shares of the company’s stock, valued at $6,638,206.64. This represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Anthony Armenta also recently made the following trade(s):

• On Friday, November 14th, Anthony Armenta sold 49,082 shares of Serve Robotics stock. The shares were sold at an average price of $9.32, for a total value of $457,444.24.
• On Wednesday, November 5th, Anthony Armenta sold 3,545 shares of Serve Robotics stock. The shares were sold at an average price of $11.63, for a total value of $41,228.35.

Serve Robotics Price Performance

SERV stock traded down $0.40 during midday trading on Tuesday, reaching $10.57. 4,892,706 shares of the company were exchanged, compared to its average volume of 8,086,116. The firm has a market capitalization of $787.25 million, a price-to-earnings ratio of -7.09 and a beta of -0.10. The business has a 50-day moving average price of $12.26 and a two-hundred day moving average price of $11.55. Serve Robotics Inc. has a one year low of $4.66 and a one year high of $24.35.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.17). The company had revenue of $0.69 million for the quarter, compared to analyst estimates of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. As a group, analysts anticipate that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SERV has been the subject of a number of research analyst reports. Singular Research upgraded Serve Robotics to a “moderate buy” rating in a report on Tuesday, August 26th. Citigroup reissued an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Northland Securities set a $26.00 price objective on Serve Robotics in a report on Monday, October 13th. Wedbush started coverage on Serve Robotics in a research report on Wednesday, August 27th. They set an “outperform” rating and a $15.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.33.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SERV. First Trust Advisors LP acquired a new position in Serve Robotics in the third quarter valued at about $8,840,000. Capital Fund Management S.A. bought a new position in Serve Robotics in the 1st quarter valued at about $4,244,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Serve Robotics by 616.9% in the 1st 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. Geode Capital Management LLC lifted its holdings in shares of Serve Robotics by 176.0% during the 2nd quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock worth $10,054,000 after acquiring an additional 560,361 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Serve Robotics by 25.2% during the 3rd quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock worth $30,178,000 after acquiring an additional 521,945 shares during the period.

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.