Serve Robotics (NASDAQ:SERV) CEO Ali Kashani Sells 15,885 Shares

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 15,885 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total value of $115,007.40. Following the completion of the transaction, the chief executive officer directly owned 3,278,091 shares in the company, valued at approximately $23,733,378.84. This represents a 0.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Ali Kashani also recently made the following trade(s):

• On Thursday, May 7th, Ali Kashani sold 14,644 shares of Serve Robotics stock. The stock was sold at an average price of $9.26, for a total value of $135,603.44.
• On Wednesday, May 6th, Ali Kashani sold 11,753 shares of Serve Robotics stock. The stock was sold at an average price of $9.29, for a total value of $109,185.37.
• On Wednesday, April 8th, Ali Kashani sold 14,541 shares of Serve Robotics stock. The stock was sold at an average price of $8.62, for a total value of $125,343.42.

Serve Robotics Price Performance

Shares of NASDAQ SERV opened at $7.44 on Friday. Serve Robotics Inc. has a one year low of $6.84 and a one year high of $18.64. The business’s fifty day moving average price is $8.75 and its 200-day moving average price is $10.13. The stock has a market capitalization of $575.63 million, a PE ratio of -3.70 and a beta of 0.53.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. The firm had revenue of $2.98 million for the quarter, compared to analysts’ expectations of $2.83 million. As a group, equities analysts expect that Serve Robotics Inc. will post -2.64 EPS for the current fiscal year.

Institutional Trading of Serve Robotics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Serve Robotics during the 4th quarter valued at $31,000. Quadrant Capital Group LLC bought a new stake in shares of Serve Robotics during the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC raised its stake in shares of Serve Robotics by 299.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after purchasing an additional 2,392 shares during the period. CWM LLC raised its stake in shares of Serve Robotics by 514.1% during the 4th quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after purchasing an additional 2,879 shares during the period. Finally, Harbour Investments Inc. raised its stake in shares of Serve Robotics by 149.3% during the 4th quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock valued at $39,000 after purchasing an additional 2,240 shares during the period.

Wall Street Analysts Forecast Growth

SERV has been the topic of a number of recent research reports. Weiss Ratings cut Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Guggenheim initiated coverage on Serve Robotics in a research report on Monday, April 20th. They set a “buy” rating and a $13.00 price target on the stock. LADENBURG THALM/SH SH upped their price target on Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Freedom Capital cut Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Finally, Cantor Fitzgerald dropped their price target on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.51.

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.