Key Points
- CFO Brian Read sold 1,179 shares on May 1 at an average price of $9.29 (about $10,953) to cover tax withholding from vested equity, leaving him with 321,558 shares (a 0.37% reduction in his stake).
- Serve Robotics is trading near $9.35 with a market cap of roughly $723M, reported a quarterly EPS of -$0.46 (slightly above estimates), and carries an analyst consensus of Buy with an average price target of $17.67.
Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CFO Brian Read sold 1,179 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $9.29, for a total value of $10,952.91. Following the completion of the sale, the chief financial officer owned 321,558 shares of the company's stock, valued at $2,987,273.82. This trade represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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, April 8th, Brian Read sold 200 shares of Serve Robotics stock. The stock was sold at an average price of $8.62, for a total value of $1,724.00.
- On Tuesday, March 10th, Brian Read sold 203 shares of Serve Robotics stock. The stock was sold at an average price of $9.72, for a total value of $1,973.16.
- On Tuesday, March 3rd, Brian Read sold 1,268 shares of Serve Robotics stock. The stock was sold at an average price of $9.61, for a total value of $12,185.48.
- On Wednesday, February 11th, Brian Read sold 185 shares of Serve Robotics stock. The stock was sold at an average price of $10.17, for a total value of $1,881.45.
- On Wednesday, February 4th, Brian Read sold 3,185 shares of Serve Robotics stock. The stock was sold at an average price of $10.33, for a total value of $32,901.05.
- On Tuesday, February 3rd, Brian Read sold 1,547 shares of Serve Robotics stock. The stock was sold at an average price of $10.83, for a total value of $16,754.01.
Serve Robotics Price Performance
Shares of Serve Robotics stock opened at $9.35 on Tuesday. Serve Robotics Inc. has a 1 year low of $5.87 and a 1 year high of $18.64. The business has a 50-day moving average of $9.26 and a two-hundred day moving average of $10.82. The company has a market capitalization of $722.99 million, a P/E ratio of -5.88 and a beta of 0.96.
Serve Robotics (NASDAQ:SERV - Get Free Report) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.03. The company had revenue of $0.88 million during the quarter, compared to the consensus estimate of $0.77 million. Serve Robotics had a negative return on equity of 38.54% and a negative net margin of 3,821.98%. On average, equities analysts anticipate that Serve Robotics Inc. will post -2.39 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research analysts have recently weighed in on SERV shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Serve Robotics in a research report on Friday, March 27th. Guggenheim assumed coverage on Serve Robotics in a research report on Monday, April 20th. They set a "buy" rating and a $13.00 price objective for the company. Finally, Cantor Fitzgerald reduced their price target on Serve Robotics from $17.00 to $16.00 and set an "overweight" rating for the company in a research report on Tuesday, March 17th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $17.67.
Read Our Latest Report on Serve Robotics
Institutional Trading of Serve Robotics
Institutional investors and hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC raised its stake in Serve Robotics by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company's stock valued at $12,950,000 after buying an additional 138,558 shares during the period. Cambria Investment Management L.P. raised its stake in Serve Robotics by 25.0% in the third quarter. Cambria Investment Management L.P. now owns 74,391 shares of the company's stock valued at $865,000 after buying an additional 14,877 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in 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 during the period. DNB Asset Management AS increased its stake in shares of Serve Robotics by 23.0% during the third quarter. DNB Asset Management AS now owns 85,769 shares of the company's stock worth $997,000 after purchasing an additional 16,032 shares during the period. Finally, Thoroughbred Financial Services LLC increased its stake in shares of Serve Robotics by 9.0% during the third quarter. Thoroughbred Financial Services LLC now owns 24,250 shares of the company's stock worth $282,000 after purchasing an additional 2,000 shares during the period.
Serve Robotics Company Profile
(
Get Free Report)
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.
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