Key Points
- Serve Robotics CEO Ali Kashani sold 15,885 shares on June 10 at an average price of $7.24, totaling about $115,007. The sale reduced his ownership by 0.48% and was disclosed as being for tax withholding tied to vested equity awards.
- The stock has been volatile and is trading below key moving averages, with shares opening at $7.44, above the 52-week low of $6.84 but well below the 52-week high of $18.64. Serve Robotics also has a market cap of about $575.6 million and a negative P/E ratio.
- Analysts remain cautiously constructive despite mixed recent results: the company missed EPS estimates in its latest quarter but beat revenue expectations, and Wall Street currently has a consensus rating of “Moderate Buy” with an average price target of $17.51.
Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CFO Brian Read sold 1,496 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $7.24, for a total transaction of $10,831.04. Following the completion of the transaction, the chief financial officer owned 317,071 shares in the company, valued at $2,295,594.04. This represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Thursday, May 7th, Brian Read sold 201 shares of Serve Robotics stock. The shares were sold at an average price of $9.26, for a total transaction of $1,861.26.
- On Wednesday, May 6th, Brian Read sold 2,790 shares of Serve Robotics stock. The shares were sold at an average price of $9.29, for a total transaction of $25,919.10.
- On Friday, May 1st, Brian Read sold 1,179 shares of Serve Robotics stock. The shares were sold at an average price of $9.29, for a total transaction of $10,952.91.
- On Wednesday, April 8th, Brian Read sold 200 shares of Serve Robotics stock. The shares were sold at an average price of $8.62, for a total transaction of $1,724.00.
Serve Robotics Stock Up 6.6%
Shares of Serve Robotics stock opened at $7.44 on Friday. The firm has a market capitalization of $575.63 million, a P/E ratio of -3.70 and a beta of 0.53. Serve Robotics Inc. has a 52 week low of $6.84 and a 52 week high of $18.64. The firm's 50 day moving average is $8.75 and its two-hundred day moving average is $10.13.
Serve Robotics (NASDAQ:SERV - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.08). The company had revenue of $2.98 million during the quarter, compared to analysts' expectations of $2.83 million. Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. As a group, research analysts expect that Serve Robotics Inc. will post -2.64 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Serve Robotics
A number of hedge funds have recently modified their holdings of the business. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Serve Robotics during the fourth quarter worth $31,000. Quadrant Capital Group LLC acquired a new stake in shares of Serve Robotics during the fourth quarter worth $31,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Serve Robotics by 299.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company's stock worth $33,000 after purchasing an additional 2,392 shares during the period. CWM LLC lifted its holdings in shares of Serve Robotics by 514.1% during the fourth quarter. CWM LLC now owns 3,439 shares of the company's stock worth $36,000 after purchasing an additional 2,879 shares during the period. Finally, Harbour Investments Inc. lifted its holdings in shares of Serve Robotics by 149.3% during the fourth quarter. Harbour Investments Inc. now owns 3,740 shares of the company's stock worth $39,000 after purchasing an additional 2,240 shares during the period.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on SERV. Cantor Fitzgerald lowered their target price on shares of Serve Robotics from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 17th. LADENBURG THALM/SH SH raised their target price on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a "buy" rating in a research report on Wednesday, May 13th. Freedom Capital lowered shares of Serve Robotics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 13th. Weiss Ratings lowered shares of Serve Robotics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Tuesday, June 2nd. Finally, Guggenheim began coverage on shares of Serve Robotics in a research report on Monday, April 20th. They set a "buy" rating and a $13.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.51.
Check Out Our Latest Stock Analysis on SERV
About Serve Robotics
(
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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