Key Points
- CFO Brian Read sold 2,057 shares on Dec. 2 at an average price of $9.82 for about $20,200, leaving him with 351,770 shares (a 0.58% reduction valued at roughly $3.45M).
- Insider selling is recurring: Read has sold multiple blocks of SERV stock since September, suggesting continued insider liquidity-taking rather than sporadic trimming.
- Mixed fundamentals and analyst views: Serve missed quarterly EPS estimates (‑$0.54 vs. ‑$0.37), shows deeply negative margins, yet the consensus rating is a "Moderate Buy" with an average target of $19.33 and a market cap near $913.5M.
Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CFO Brian Read sold 2,057 shares of Serve Robotics stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $9.82, for a total value of $20,199.74. Following the transaction, the chief financial officer owned 351,770 shares in the company, valued at $3,454,381.40. This trade represents a 0.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Brian Read also recently made the following trade(s):
- On Thursday, October 30th, Brian Read sold 1,270 shares of Serve Robotics stock. The stock was sold at an average price of $13.32, for a total transaction of $16,916.40.
- On Tuesday, October 7th, Brian Read sold 176 shares of Serve Robotics stock. The shares were sold at an average price of $15.29, for a total transaction of $2,691.04.
- On Tuesday, September 30th, Brian Read sold 1,225 shares of Serve Robotics stock. The shares were sold at an average price of $11.70, for a total transaction of $14,332.50.
- On Thursday, September 18th, Brian Read sold 3,941 shares of Serve Robotics stock. The stock was sold at an average price of $12.70, for a total transaction of $50,050.70.
- On Thursday, September 11th, Brian Read sold 4,319 shares of Serve Robotics stock. The stock was sold at an average price of $11.54, for a total transaction of $49,841.26.
- On Monday, September 8th, Brian Read sold 7,175 shares of Serve Robotics stock. The stock was sold at an average price of $10.44, for a total transaction of $74,907.00.
Serve Robotics Price Performance
SERV stock traded up $0.47 during trading hours on Thursday, reaching $12.27. 2,995,368 shares of the stock were exchanged, compared to its average volume of 8,019,790. The firm's 50-day moving average is $12.22 and its 200-day moving average is $11.48. Serve Robotics Inc. has a 12 month low of $4.66 and a 12 month high of $24.35. The company has a market cap of $913.50 million, a price-to-earnings ratio of -8.08 and a beta of -0.14.
Serve Robotics (NASDAQ:SERV - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $0.69 million for the quarter, compared to the consensus estimate 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, equities research analysts forecast that Serve Robotics Inc. will post -0.98 earnings per share for the current year.
Analysts Set New Price Targets
SERV has been the topic of a number of research reports. Citigroup reissued an "outperform" rating on shares of Serve Robotics in a research report on Monday, October 13th. Northland Securities set a $26.00 price target on shares of Serve Robotics in a research report on Monday, October 13th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Serve Robotics in a research report on Monday, November 17th. Weiss Ratings restated a "sell (d-)" rating on shares of Serve Robotics in a research note on Monday. Finally, Singular Research raised shares of Serve Robotics to a "moderate buy" rating in a research report on Tuesday, August 26th. Four equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $19.33.
Check Out Our Latest Analysis on SERV
Institutional Trading of Serve Robotics
Hedge funds have recently added to or reduced their stakes in the company. Cambria Investment Management L.P. lifted its holdings in shares of Serve Robotics by 25.0% during the third quarter. Cambria Investment Management L.P. now owns 74,391 shares of the company's stock worth $865,000 after buying an additional 14,877 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Serve Robotics by 23.0% during the 3rd quarter. Captrust Financial Advisors now owns 589,441 shares of the company's stock worth $6,855,000 after purchasing an additional 110,094 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Serve Robotics by 258.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 8,432 shares of the company's stock valued at $98,000 after buying an additional 6,080 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Serve Robotics by 6.4% in the third quarter. Advisory Services Network LLC now owns 46,448 shares of the company's stock valued at $540,000 after buying an additional 2,797 shares during the period. Finally, Verition Fund Management LLC boosted its stake in shares of Serve Robotics by 101.0% in the third quarter. Verition Fund Management LLC now owns 127,515 shares of the company's stock valued at $1,483,000 after buying an additional 64,068 shares during the period.
Serve Robotics Company Profile
(
Get Free Report)
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.
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