Serve Robotics (NASDAQ:SERV) Shares Down 4.4% – Here’s What Happened

Serve Robotics Inc. (NASDAQ:SERV) dropped 4.4% during trading on Friday . The company traded as low as $14.95 and last traded at $14.7340. Approximately 3,978,174 shares were traded during trading, a decline of 61% from the average daily volume of 10,236,290 shares. The stock had previously closed at $15.41.

Analyst Ratings Changes

SERV has been the subject of a number of research analyst reports. Loop Capital set a $16.00 price target on shares of Serve Robotics in a research report on Wednesday, December 31st. Northland Securities reiterated an “outperform” rating and issued a $26.00 price objective on shares of Serve Robotics in a research note on Friday, January 2nd. LADENBURG THALM/SH SH upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. Citigroup restated an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Finally, Oppenheimer initiated coverage on Serve Robotics in a research report on Thursday, December 18th. They set an “outperform” rating and a $20.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Serve Robotics Trading Down 5.2%

The stock has a market cap of $1.09 billion, a P/E ratio of -9.81 and a beta of 0.27. The firm’s fifty day moving average is $10.98 and its 200 day moving average is $11.50.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.54) 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 business had revenue of $0.69 million during the quarter, compared to the consensus estimate of $0.69 million. Research analysts forecast that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity at Serve Robotics

In other Serve Robotics news, CFO Brian Read sold 6,700 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $13.15, for a total value of $88,105.00. Following the completion of the sale, the chief financial officer owned 337,199 shares in the company, valued at approximately $4,434,166.85. This trade represents a 1.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Touraj Parang sold 5,000 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $13.07, for a total value of $65,350.00. Following the completion of the transaction, the chief operating officer directly owned 1,333,691 shares of the company’s stock, valued at approximately $17,431,341.37. This trade represents a 0.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 187,262 shares of company stock worth $2,237,852. Insiders own 5.50% of the company’s stock.

Institutional Trading of Serve Robotics

Institutional investors have recently made changes to their positions in the business. Vontobel Holding Ltd. raised its position in Serve Robotics by 6.7% in the third quarter. Vontobel Holding Ltd. now owns 22,427 shares of the company’s stock worth $261,000 after purchasing an additional 1,417 shares in the last quarter. Creative Planning raised its holdings in shares of Serve Robotics by 14.5% in the 3rd quarter. Creative Planning now owns 14,800 shares of the company’s stock worth $172,000 after buying an additional 1,877 shares in the last quarter. Phoenix Financial Ltd. raised its holdings in shares of Serve Robotics by 13.3% in the 3rd quarter. Phoenix Financial Ltd. now owns 17,000 shares of the company’s stock worth $198,000 after buying an additional 2,000 shares in the last quarter. Thoroughbred Financial Services LLC lifted its position in shares of Serve Robotics by 9.0% during the 3rd quarter. Thoroughbred Financial Services LLC now owns 24,250 shares of the company’s stock worth $282,000 after buying an additional 2,000 shares during the period. Finally, Farther Finance Advisors LLC acquired a new stake in Serve Robotics in the 3rd quarter valued at $27,000.

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.