Serve Robotics (NASDAQ:SERV) Sets New 12-Month Low – Here’s What Happened

Serve Robotics Inc. (NASDAQ:SERV)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $6.47 and last traded at $6.49, with a volume of 2612202 shares trading hands. The stock had previously closed at $6.80.

Analyst Ratings Changes

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

Serve Robotics Stock Down 4.7%

The firm has a market capitalization of $501.38 million, a price-to-earnings ratio of -3.22 and a beta of 0.53. The company has a fifty day moving average price of $8.55 and a two-hundred day moving average price of $9.98.

Serve Robotics (NASDAQ:SERV) last announced its earnings results on Thursday, May 7th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. The business had revenue of $2.98 million during the quarter, compared to analyst estimates of $2.83 million. On average, equities analysts anticipate that Serve Robotics Inc. will post -2.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Serve Robotics

In other Serve Robotics news, CEO Ali Kashani sold 15,885 shares of Serve Robotics stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $7.24, for a total value of $115,007.40. Following the transaction, the chief executive officer directly owned 3,278,091 shares in the company, valued at approximately $23,733,378.84. The trade was a 0.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Read sold 2,790 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $9.29, for a total transaction of $25,919.10. Following the sale, the chief financial officer owned 318,768 shares of the company’s stock, valued at $2,961,354.72. This trade represents a 0.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 91,250 shares of company stock valued at $768,253. Company insiders own 5.00% of the company’s stock.

Institutional Trading of Serve Robotics

A number of hedge funds have recently added to or reduced their stakes in SERV. Vanguard Group Inc. increased its holdings in shares of Serve Robotics by 25.2% in the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock valued at $30,178,000 after purchasing an additional 521,945 shares during the period. Geode Capital Management LLC grew its position in Serve Robotics by 29.1% in the 4th quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company’s stock valued at $15,137,000 after buying an additional 328,405 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Serve Robotics by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company’s stock valued at $12,950,000 after acquiring an additional 138,558 shares in the last quarter. State Street Corp raised its stake in shares of Serve Robotics by 29.5% during the 4th quarter. State Street Corp now owns 1,245,411 shares of the company’s stock worth $12,927,000 after buying an additional 283,497 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Serve Robotics by 34.5% in the fourth quarter. First Trust Advisors LP now owns 1,022,459 shares of the company’s stock valued at $10,613,000 after acquiring an additional 262,348 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.