Key Points
- Euan Abraham sold 1,917 shares of Serve Robotics on December 11 at an average price of $11.87 for a total of $22,754.79, reducing his stake by 0.78% to 242,867 shares.
- Abraham has repeatedly sold stock in recent months — including two 25,000-share sales on September 19 and October 15 — indicating ongoing sizable insider selling.
- Serve Robotics shares are down 9.6%; the company reported a Q4 EPS of -$0.54 (missing estimates) and extremely negative margins, though analysts have a consensus rating of "Moderate Buy" with an average target of $19.33.
Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) insider Euan Abraham sold 1,917 shares of Serve Robotics stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $11.87, for a total value of $22,754.79. Following the completion of the sale, the insider owned 242,867 shares of the company's stock, valued at $2,882,831.29. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Euan Abraham also recently made the following trade(s):
- On Thursday, November 6th, Euan Abraham sold 1,840 shares of Serve Robotics stock. The stock was sold at an average price of $10.80, for a total transaction of $19,872.00.
- On Wednesday, November 5th, Euan Abraham sold 3,915 shares of Serve Robotics stock. The shares were sold at an average price of $11.69, for a total transaction of $45,766.35.
- On Wednesday, October 15th, Euan Abraham sold 25,000 shares of Serve Robotics stock. The shares were sold at an average price of $17.99, for a total transaction of $449,750.00.
- On Tuesday, October 7th, Euan Abraham sold 1,480 shares of Serve Robotics stock. The stock was sold at an average price of $15.19, for a total transaction of $22,481.20.
- On Friday, September 19th, Euan Abraham sold 25,000 shares of Serve Robotics stock. The shares were sold at an average price of $14.99, for a total transaction of $374,750.00.
- On Thursday, September 18th, Euan Abraham sold 8,433 shares of Serve Robotics stock. The shares were sold at an average price of $12.38, for a total transaction of $104,400.54.
Serve Robotics Stock Down 9.6%
Shares of NASDAQ:SERV opened at $10.97 on Tuesday. The firm has a 50 day moving average of $12.26 and a 200 day moving average of $11.55. The company has a market capitalization of $817.05 million, a price-to-earnings ratio of -7.36 and a beta of -0.10. Serve Robotics Inc. has a 52 week low of $4.66 and a 52 week high of $24.35.
Serve Robotics (NASDAQ:SERV - Get Free Report) last announced 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 net margin of 4,121.58% and a negative return on equity of 38.52%. The company had revenue of $0.69 million for the quarter, compared to the consensus estimate of $0.69 million. On average, sell-side analysts expect that Serve Robotics Inc. will post -0.98 EPS for the current year.
Analyst Upgrades and Downgrades
SERV has been the topic of several analyst reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Serve Robotics in a research note on Monday, November 17th. Wedbush assumed coverage on shares of Serve Robotics in a research report on Wednesday, August 27th. They issued an "outperform" rating and a $15.00 price objective on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Serve Robotics in a research report on Monday, December 8th. Singular Research upgraded shares of Serve Robotics to a "moderate buy" rating in a research note on Tuesday, August 26th. Finally, Northland Securities set a $26.00 price target on Serve Robotics in a research report on Monday, October 13th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Serve Robotics presently has a consensus rating of "Moderate Buy" and an average target price of $19.33.
Check Out Our Latest Stock Analysis on SERV
Hedge Funds Weigh In On Serve Robotics
Several hedge funds and other institutional investors have recently modified their holdings of SERV. Charles Schwab Investment Management Inc. boosted its stake in Serve Robotics by 13.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company's stock worth $73,000 after purchasing an additional 1,545 shares in the last quarter. Swiss National Bank acquired a new stake in shares of Serve Robotics during the first quarter worth $305,000. EntryPoint Capital LLC acquired a new stake in shares of Serve Robotics during the first quarter worth $358,000. Capital Fund Management S.A. purchased a new stake in shares of Serve Robotics during the first quarter valued at $4,244,000. Finally, PEAK6 LLC increased its position in shares of Serve Robotics by 377.7% in the 1st quarter. PEAK6 LLC now owns 15,314 shares of the company's stock valued at $88,000 after acquiring an additional 20,829 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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