Key Points
- Serve Robotics director David Michael Goldberg sold 10,600 shares on June 16 at an average price of $7.20, totaling $76,320. The sale reduced his holdings by 23.18% and was made under a pre-arranged Rule 10b5-1 plan.
- The stock rose 4.5% and opened Friday at $6.99, near its 12-month low of $6.49 and well below its 12-month high of $18.64. The company currently has a market cap of about $540.8 million.
- Analysts remain cautiously positive, with seven Buy ratings, one Hold, and one Sell, giving the stock a consensus rating of “Moderate Buy.” The average price target stands at $17.51, despite the company’s recent quarterly EPS miss and continued losses.
Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) Director David Michael Goldberg sold 10,600 shares of Serve Robotics stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $7.20, for a total transaction of $76,320.00. Following the completion of the transaction, the director owned 35,125 shares in the company, valued at approximately $252,900. The trade was a 23.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Serve Robotics Stock Up 4.5%
NASDAQ SERV opened at $6.99 on Friday. The company has a 50-day simple moving average of $8.60 and a two-hundred day simple moving average of $10.02. Serve Robotics Inc. has a 12-month low of $6.49 and a 12-month high of $18.64. The firm has a market cap of $540.82 million, a price-to-earnings ratio of -3.48 and a beta of 0.53.
Serve Robotics (NASDAQ:SERV - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.08). Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. The company had revenue of $2.98 million during the quarter, compared to the consensus estimate of $2.83 million. Equities analysts expect that Serve Robotics Inc. will post -2.64 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Guggenheim initiated coverage on shares of Serve Robotics in a report on Monday, April 20th. They set a "buy" rating and a $13.00 target price for the company. LADENBURG THALM/SH SH upped their price target on Serve Robotics from $15.00 to $16.60 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Freedom Capital cut Serve Robotics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 13th. Cantor Fitzgerald cut their price objective on Serve Robotics from $17.00 to $16.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 17th. Finally, Weiss Ratings raised Serve Robotics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.51.
Check Out Our Latest Research Report on SERV
Hedge Funds Weigh In On Serve Robotics
A number of institutional investors have recently bought and sold shares of the stock. Main Management ETF Advisors LLC boosted its position in Serve Robotics by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 166,779 shares of the company's stock valued at $1,731,000 after acquiring an additional 1,704 shares in the last quarter. Creative Planning grew its stake in Serve Robotics by 14.5% in the third quarter. Creative Planning now owns 14,800 shares of the company's stock worth $172,000 after purchasing an additional 1,877 shares during the period. Russell Investments Group Ltd. grew its stake in Serve Robotics by 38.0% in the fourth quarter. Russell Investments Group Ltd. now owns 7,003 shares of the company's stock worth $73,000 after purchasing an additional 1,927 shares during the period. Thoroughbred Financial Services LLC raised its holdings in Serve Robotics by 9.0% in 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 in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Serve Robotics by 65.2% in the first quarter. EverSource Wealth Advisors LLC now owns 5,274 shares of the company's stock worth $45,000 after purchasing an additional 2,082 shares in the last quarter.
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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