Serve Robotics (NASDAQ:SERV) Insider Sells $55,553.11 in Stock

Serve Robotics Inc. (NASDAQ:SERV) insider Anthony Armenta sold 3,893 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $14.27, for a total value of $55,553.11. Following the transaction, the insider directly owned 551,141 shares in the company, valued at $7,864,782.07. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Anthony Armenta also recently made the following trade(s):

• On Monday, December 15th, Anthony Armenta sold 5,003 shares of Serve Robotics stock. The shares were sold at an average price of $11.96, for a total transaction of $59,835.88.
• On Friday, November 14th, Anthony Armenta sold 49,082 shares of Serve Robotics stock. The shares were sold at an average price of $9.32, for a total transaction of $457,444.24.
• On Wednesday, November 5th, Anthony Armenta sold 3,545 shares of Serve Robotics stock. The stock was sold at an average price of $11.63, for a total transaction of $41,228.35.

Serve Robotics Trading Up 1.8%

Shares of SERV stock opened at $14.84 on Friday. The firm has a fifty day simple moving average of $11.32 and a 200-day simple moving average of $11.65. The company has a market capitalization of $1.11 billion, a PE ratio of -9.96 and a beta of 0.27. Serve Robotics Inc. has a twelve month low of $4.66 and a twelve month high of $23.10.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings results 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 firm had revenue of $0.69 million for the quarter, compared to analysts’ expectations 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 EPS for the current year.

Analyst Ratings Changes

SERV has been the subject of a number of recent analyst reports. Freedom Capital upgraded Serve Robotics to a “strong-buy” rating in a research note on Wednesday, December 31st. Loop Capital set a $16.00 price target on shares of Serve Robotics in a research report on Wednesday, December 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a report on Monday, December 29th. Citigroup reiterated an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Finally, Northland Securities reissued an “outperform” rating and issued a $26.00 target price on shares of Serve Robotics in a research report on Friday, January 2nd. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Serve Robotics has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Institutional Trading of Serve Robotics

A number of institutional investors and hedge funds have recently modified their holdings of SERV. Bulltick Wealth Management LLC bought a new position in Serve Robotics during the 2nd quarter worth $355,000. Vontobel Holding Ltd. acquired a new position in shares of Serve Robotics during the second quarter valued at $240,000. Exchange Traded Concepts LLC grew its position 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 acquiring an additional 113,761 shares during the last quarter. DNB Asset Management AS grew its position in shares of Serve Robotics by 163.6% during the second quarter. DNB Asset Management AS now owns 69,737 shares of the company’s stock worth $798,000 after acquiring an additional 43,284 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Serve Robotics by 176.0% in the 2nd quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock worth $10,054,000 after acquiring an additional 560,361 shares during the period.

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.