Serve Robotics (NASDAQ:SERV) CFO Sells $27,948.24 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read sold 6,129 shares of Serve Robotics stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $4.56, for a total transaction of $27,948.24. Following the sale, the chief financial officer directly owned 285,702 shares in the company, valued at $1,302,801.12. This trade represents a 2.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brian Read also recently made the following trade(s):

• On Wednesday, August 19th, Brian Read sold 9,700 shares of Serve Robotics stock. The shares were sold at an average price of $4.80, for a total transaction of $46,560.00.
• On Monday, August 17th, Brian Read sold 25,240 shares of Serve Robotics stock. The shares were sold at an average price of $5.24, for a total transaction of $132,257.60.
• On Wednesday, June 10th, Brian Read sold 1,496 shares of Serve Robotics stock. The shares were sold at an average price of $7.24, for a total value of $10,831.04.

Serve Robotics Stock Performance

Shares of NASDAQ SERV opened at $4.98 on Friday. Serve Robotics Inc. has a 1 year low of $4.32 and a 1 year high of $18.64. The firm has a market cap of $431.82 million, a price-to-earnings ratio of -2.03 and a beta of 1.34. The stock’s 50-day simple moving average is $5.63 and its 200-day simple moving average is $7.90.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.69) by ($0.11). The business had revenue of $3.24 million during 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%. As a group, research analysts predict that Serve Robotics Inc. will post -2.71 EPS for the current year.

Institutional Trading of Serve Robotics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. DNB Asset Management AS lifted its holdings in Serve Robotics by 178.9% during the 4th quarter. DNB Asset Management AS now owns 239,205 shares of the company’s stock worth $2,483,000 after buying an additional 153,436 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Serve Robotics in the 4th quarter valued at approximately $1,427,000. Grange Capital LLC bought a new stake in shares of Serve Robotics in the 1st quarter valued at approximately $2,426,000. Hsbc Holdings PLC acquired a new stake in shares of Serve Robotics during the 4th quarter valued at approximately $1,061,000. Finally, Legal & General Group Plc lifted its stake in Serve Robotics by 11.7% during the fourth quarter. Legal & General Group Plc now owns 839,933 shares of the company’s stock worth $8,864,000 after purchasing an additional 88,099 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SERV shares. Cantor Fitzgerald lowered Serve Robotics from an “overweight” rating to a “neutral” rating in a research report on Friday, August 7th. Oppenheimer decreased their price target on shares of Serve Robotics from $20.00 to $7.00 and set an “outperform” rating for the company in a research report on Friday, August 7th. 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. Freedom Capital raised shares of Serve Robotics from a “hold” rating to a “strong-buy” rating in a report on Friday, August 14th. Finally, LADENBURG THALM/SH SH increased their price objective on shares of Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Serve Robotics presently has a consensus rating of “Moderate Buy” and an average price target of $14.80.

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.