Brian Read Sells 1,496 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read sold 1,496 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total transaction of $10,831.04. Following the transaction, the chief financial officer directly owned 317,071 shares of the company’s stock, valued at $2,295,594.04. This trade represents a 0.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brian Read also recently made the following trade(s):

• On Thursday, May 7th, Brian Read sold 201 shares of Serve Robotics stock. The stock was sold at an average price of $9.26, for a total transaction of $1,861.26.
• On Wednesday, May 6th, Brian Read sold 2,790 shares of Serve Robotics stock. The stock was sold at an average price of $9.29, for a total transaction of $25,919.10.
• On Friday, May 1st, Brian Read sold 1,179 shares of Serve Robotics stock. The stock was sold at an average price of $9.29, for a total transaction of $10,952.91.
• On Wednesday, April 8th, Brian Read sold 200 shares of Serve Robotics stock. The stock was sold at an average price of $8.62, for a total transaction of $1,724.00.

Serve Robotics Stock Performance

Shares of SERV stock opened at $6.97 on Friday. Serve Robotics Inc. has a one year low of $6.84 and a one year high of $18.64. The company has a 50 day moving average price of $8.72 and a 200 day moving average price of $10.11. The firm has a market capitalization of $539.27 million, a price-to-earnings ratio of -3.47 and a beta of 0.53.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.08). Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%.The company had revenue of $2.98 million for the quarter, compared to analyst estimates of $2.83 million. As a group, equities analysts forecast that Serve Robotics Inc. will post -2.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of Serve Robotics by 42.3% in the first quarter. Bank of America Corp DE now owns 154,849 shares of the company’s stock valued at $1,307,000 after purchasing an additional 46,017 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Serve Robotics by 65.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,274 shares of the company’s stock valued at $45,000 after acquiring an additional 2,082 shares during the last quarter. Quantinno Capital Management LP bought a new position in Serve Robotics during the 1st quarter valued at $270,000. Themes Management Co LLC boosted its stake in Serve Robotics by 110.0% during the 1st quarter. Themes Management Co LLC now owns 84,703 shares of the company’s stock valued at $715,000 after acquiring an additional 44,377 shares during the last quarter. Finally, Next Capital Management LLC boosted its stake in Serve Robotics by 60.9% during the 1st quarter. Next Capital Management LLC now owns 26,425 shares of the company’s stock valued at $223,000 after acquiring an additional 10,000 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SERV shares. Cantor Fitzgerald dropped their price objective on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Tuesday, March 17th. Guggenheim started coverage on shares of Serve Robotics in a research report on Monday, April 20th. They issued a “buy” rating and a $13.00 price objective for the company. LADENBURG THALM/SH SH increased their price objective on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings lowered shares of Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Finally, Freedom Capital downgraded shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Serve Robotics currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.51.

About Serve Robotics

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.