Serve Robotics (NASDAQ:SERV) Stock Price Up 7.4% – Here’s Why

Serve Robotics Inc. (NASDAQ:SERV) shares shot up 7.4% on Monday . The company traded as high as $11.22 and last traded at $11.02. 5,474,721 shares were traded during mid-day trading, a decline of 32% from the average session volume of 8,067,386 shares. The stock had previously closed at $10.26.

Analyst Ratings Changes

A number of brokerages recently commented on SERV. Oppenheimer assumed coverage on shares of Serve Robotics in a report on Thursday, December 18th. They set an “outperform” rating and a $20.00 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 Serve Robotics to a “moderate buy” rating in a research report on Tuesday, August 26th. Citigroup reissued an “outperform” rating on shares of Serve Robotics in a research report on Monday, October 13th. Finally, LADENBURG THALM/SH SH raised Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Serve Robotics has a consensus rating of “Moderate Buy” and a consensus price target of $19.50.

Serve Robotics Price Performance

The stock has a market capitalization of $799.17 million, a price-to-earnings ratio of -7.20 and a beta of -0.14. The firm has a 50-day moving average of $11.50 and a 200 day moving average of $11.48.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $0.69 million. On average, equities analysts forecast that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Insider Activity

In other news, CEO Ali Kashani sold 16,730 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $11.87, for a total value of $198,585.10. Following the sale, the chief executive officer directly owned 3,374,862 shares of the company’s stock, valued at approximately $40,059,611.94. This represents a 0.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian Read sold 6,700 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $13.15, for a total transaction of $88,105.00. Following the completion of the sale, the chief financial officer owned 337,199 shares of the company’s stock, valued at $4,434,166.85. This trade represents a 1.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 225,895 shares of company stock worth $2,827,654. 5.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Serve Robotics

A number of institutional investors have recently bought and sold shares of SERV. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Serve Robotics by 616.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company’s stock worth $3,972,000 after purchasing an additional 584,302 shares during the last quarter. Bulltick Wealth Management LLC acquired a new position in Serve Robotics in the 2nd quarter valued at $355,000. Vontobel Holding Ltd. bought a new position in Serve Robotics during the 2nd quarter worth $240,000. Exchange Traded Concepts LLC lifted its holdings in shares of Serve Robotics by 12.9% during the second quarter. Exchange Traded Concepts LLC now owns 996,283 shares of the company’s stock worth $11,397,000 after buying an additional 113,761 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Serve Robotics in the first quarter valued at about $2,064,000.

Serve Robotics Company Profile

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.