Insider Selling: Serve Robotics (NASDAQ:SERV) Insider Sells 1,917 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) insider Euan Abraham sold 1,917 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $11.87, for a total value of $22,754.79. Following the sale, the insider owned 242,867 shares of the company’s stock, valued at approximately $2,882,831.29. The trade was a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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 value 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 value 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 value of $449,750.00.
• On Tuesday, October 7th, Euan Abraham sold 1,480 shares of Serve Robotics stock. The shares were 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 value of $374,750.00.
• On Thursday, September 18th, Euan Abraham sold 8,433 shares of Serve Robotics stock. The stock was sold at an average price of $12.38, for a total transaction of $104,400.54.

Serve Robotics Trading Down 9.6%

NASDAQ:SERV traded down $1.16 during trading hours on Monday, hitting $10.97. 5,617,592 shares of the company were exchanged, compared to its average volume of 8,099,200. Serve Robotics Inc. has a one year low of $4.66 and a one year high of $24.35. The stock has a market capitalization of $817.08 million, a price-to-earnings ratio of -7.36 and a beta of -0.14. The company has a fifty day simple moving average of $12.33 and a 200 day simple moving average of $11.56.

Serve Robotics (NASDAQ:SERV) last issued its earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.17). The business had revenue of $0.69 million during the quarter, compared to the consensus estimate of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. Equities research analysts predict that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SERV has been the topic of several recent analyst reports. Singular Research upgraded shares of Serve Robotics to a “moderate buy” rating in a report on Tuesday, August 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Serve Robotics in a research note on Monday, November 17th. Citigroup reiterated an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Wedbush initiated coverage on Serve Robotics in a research report on Wednesday, August 27th. They set an “outperform” rating and a $15.00 price target for the company. Finally, Northland Securities set a $26.00 price objective on Serve Robotics in a report on Monday, October 13th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Serve Robotics presently has an average rating of “Moderate Buy” and an average price target of $19.33.

Institutional Trading of Serve Robotics

Institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC bought a new position in shares of Serve Robotics during the 3rd quarter worth approximately $27,000. Allworth Financial LP grew its holdings in Serve Robotics by 316.7% in the second quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock worth $45,000 after purchasing an additional 2,964 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of Serve Robotics by 166.8% during the third quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock worth $49,000 after purchasing an additional 2,637 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Serve Robotics during the second quarter worth $55,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Serve Robotics during the 3rd quarter valued at $59,000.

About Serve Robotics

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.