Key Points
- Insider sale: Serve Robotics insider Anthony Armenta sold 5,003 shares on December 15 at an average price of $11.96 for about $59,836, leaving him with 555,034 shares (a 0.89% reduction in his stake).
- Weak fundamentals but analyst optimism: The company missed Q3 EPS (‑$0.54 vs. ‑$0.37 est.) with only $0.69M in revenue and very negative margins, the stock has traded down recently (opened $10.57) and a market cap of ~$787M, yet analysts hold a consensus "Moderate Buy" with a $19.33 target.
Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) insider Anthony Armenta sold 5,003 shares of Serve Robotics stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $11.96, for a total transaction of $59,835.88. Following the completion of the transaction, the insider owned 555,034 shares of the company's stock, valued at $6,638,206.64. This trade represents a 0.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Anthony Armenta also recently made the following trade(s):
- On Friday, November 14th, Anthony Armenta sold 49,082 shares of Serve Robotics stock. The shares were sold at an average price of $9.32, for a total transaction of $457,444.24.
- 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 Trading Down 3.6%
Serve Robotics stock opened at $10.57 on Wednesday. The firm has a market capitalization of $787.25 million, a P/E ratio of -7.09 and a beta of -0.14. Serve Robotics Inc. has a twelve month low of $4.66 and a twelve month high of $24.35. The stock's fifty day simple moving average is $12.18 and its 200-day simple moving average is $11.55.
Serve Robotics (NASDAQ:SERV - Get Free Report) last released its earnings results on Wednesday, November 12th. The company reported ($0.54) 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 company had revenue of $0.69 million for the quarter, compared to analyst estimates of $0.69 million. Sell-side analysts predict that Serve Robotics Inc. will post -0.98 earnings per share for the current year.
Institutional Trading of Serve Robotics
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new stake in shares of Serve Robotics during the 3rd quarter worth approximately $27,000. Allworth Financial LP lifted its position in Serve Robotics by 316.7% in the second quarter. Allworth Financial LP now owns 3,900 shares of the company's stock valued at $45,000 after acquiring an additional 2,964 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in Serve Robotics by 166.8% in the third quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company's stock valued at $49,000 after acquiring an additional 2,637 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in Serve Robotics in the second quarter valued at $55,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Serve Robotics during the third quarter worth about $59,000.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on SERV. Citigroup restated an "outperform" rating on shares of Serve Robotics in a research note on Monday, October 13th. 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. Cantor Fitzgerald restated an "overweight" rating on shares of Serve Robotics in a report on Monday, November 17th. Singular Research raised shares of Serve Robotics to a "moderate buy" rating in a research report on Tuesday, August 26th. Finally, Northland Securities set a $26.00 target price on shares of Serve Robotics in a research note on Monday, October 13th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.33.
Check Out Our Latest Stock Analysis on Serve Robotics
About Serve Robotics
(
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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