Serve Robotics (NASDAQ:SERV) Insider Anthony Armenta Sells 49,082 Shares

Serve Robotics Inc. (NASDAQ:SERV) insider Anthony Armenta sold 49,082 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $9.32, for a total value of $457,444.24. Following the completion of the transaction, the insider owned 560,037 shares of the company’s stock, valued at $5,219,544.84. The trade was a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, November 5th, Anthony Armenta sold 3,545 shares of Serve Robotics stock. The stock was sold at an average price of $11.63, for a total transaction of $41,228.35.

Serve Robotics Stock Performance

SERV opened at $8.97 on Wednesday. The stock has a market capitalization of $668.09 million, a price-to-earnings ratio of -6.02 and a beta of -0.80. The company has a fifty day moving average of $12.80 and a 200 day moving average of $11.36. Serve Robotics Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $24.35.

Serve Robotics (NASDAQ:SERV) last issued its earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.17). Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%.The firm had revenue of $0.69 million during the quarter, compared to the consensus estimate of $0.69 million. Serve Robotics has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. On average, equities research analysts forecast that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Institutional Trading of Serve Robotics

A number of institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC bought a new position in Serve Robotics during the third quarter valued at $27,000. Allworth Financial LP lifted its holdings in shares of Serve Robotics by 316.7% in the 2nd quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock worth $45,000 after acquiring an additional 2,964 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Serve Robotics during the 1st quarter worth about $49,000. SBI Securities Co. Ltd. boosted its stake in shares of Serve Robotics by 166.8% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock worth $49,000 after purchasing an additional 2,637 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new position in Serve Robotics during the 2nd quarter valued at about $55,000.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SERV shares. Citigroup reaffirmed an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Serve Robotics in a research report on Monday. Wedbush initiated coverage on shares of Serve Robotics in a research report on Wednesday, August 27th. They set an “outperform” rating and a $15.00 price objective for the company. Northland Securities set a $26.00 price objective on shares of Serve Robotics in a research note on Monday, October 13th. Finally, Singular Research upgraded shares of Serve Robotics to a “moderate buy” rating in a research report on Tuesday, August 26th. Four 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.33.

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.