Serve Robotics (NASDAQ:SERV) Stock Price Up 2.8% – Still a Buy?

Serve Robotics Inc. (NASDAQ:SERV)’s share price rose 2.8% during mid-day trading on Wednesday . The stock traded as high as $13.50 and last traded at $13.47. Approximately 6,729,501 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 8,692,224 shares. The stock had previously closed at $13.10.

Analyst Ratings Changes

Several research firms have weighed in on SERV. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Serve Robotics in a research note on Monday, November 17th. Oppenheimer began coverage on shares of Serve Robotics in a research report on Thursday, December 18th. They set an “outperform” rating and a $20.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a research report on Monday, December 29th. Citigroup reissued an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Finally, LADENBURG THALM/SH SH upgraded shares of Serve Robotics to a “strong-buy” rating in a report on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.80.

Serve Robotics Stock Up 2.8%

The company’s 50-day simple moving average is $10.94 and its 200 day simple moving average is $11.45. The company has a market capitalization of $1.00 billion, a P/E ratio of -9.04 and a beta of 0.27.

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

Insider Buying and Selling at Serve Robotics

In related news, insider Euan Abraham sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $17.99, for a total value of $449,750.00. Following the transaction, the insider directly owned 250,539 shares of the company’s stock, valued at approximately $4,507,196.61. This trade represents a 9.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian Read sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $13.05, for a total value of $97,875.00. Following the completion of the sale, the chief financial officer owned 344,270 shares of the company’s stock, valued at approximately $4,492,723.50. This trade represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 187,262 shares of company stock worth $2,237,852 in the last 90 days. Company insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC acquired a new position in Serve Robotics during the 3rd quarter worth $27,000. Allworth Financial LP increased its stake in shares of 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 period. SBI Securities Co. Ltd. lifted its position in shares of Serve Robotics by 166.8% during the 3rd 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 during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Serve Robotics during the 2nd quarter worth about $55,000. Finally, Russell Investments Group Ltd. bought a new stake in Serve Robotics during the 3rd quarter valued at approximately $59,000.

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.