Serve Robotics Inc. (NASDAQ:SERV) Given Average Recommendation of “Moderate Buy” by Brokerages

Serve Robotics Inc. (NASDAQ:SERV) has been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $14.80.

Several brokerages have commented on SERV. Guggenheim decreased their target price on shares of Serve Robotics from $13.00 to $7.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, July 21st. LADENBURG THALM/SH SH boosted their price objective on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Freedom Capital upgraded shares of Serve Robotics from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 14th. Finally, Oppenheimer dropped their target price on shares of Serve Robotics from $20.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, August 7th.

Insider Transactions at Serve Robotics

In related news, Director David Michael Goldberg sold 10,600 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $7.20, for a total value of $76,320.00. Following the completion of the transaction, the director directly owned 35,125 shares of the company’s stock, valued at $252,900. This trade represents a 23.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ali Kashani sold 45,158 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $4.56, for a total value of $205,920.48. Following the completion of the transaction, the chief executive officer directly owned 3,232,933 shares of the company’s stock, valued at $14,742,174.48. The trade was a 1.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 156,420 shares of company stock worth $818,258. 5.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SERV. FNY Investment Advisers LLC purchased a new stake in shares of Serve Robotics in the 2nd quarter worth about $26,000. Allworth Financial LP acquired a new position in shares of Serve Robotics in the second quarter worth $26,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Serve Robotics in the fourth quarter valued at $31,000. Quadrant Capital Group LLC acquired a new stake in shares of Serve Robotics during the fourth quarter valued at $31,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Serve Robotics by 299.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after acquiring an additional 2,392 shares during the last quarter.

Serve Robotics Price Performance

Serve Robotics stock opened at $4.67 on Tuesday. Serve Robotics has a 1-year low of $4.32 and a 1-year high of $18.64. The company has a market cap of $404.94 million, a PE ratio of -1.91 and a beta of 1.35. The stock’s 50 day moving average price is $5.58 and its 200 day moving average price is $7.84.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.69) by ($0.11). The business had revenue of $3.24 million for the quarter, compared to analyst estimates of $3.51 million. Serve Robotics had a negative return on equity of 55.34% and a negative net margin of 2,315.80%. On average, equities research analysts anticipate that Serve Robotics will post -2.71 EPS for the current fiscal year.

About Serve Robotics

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.