Serve Robotics (NASDAQ:SERV) Trading Down 9.4% – Time to Sell?

Shares of Serve Robotics Inc. (NASDAQ:SERV) dropped 9.4% during trading on Wednesday . The stock traded as low as $8.21 and last traded at $8.22. Approximately 4,385,093 shares were traded during trading, a decline of 12% from the average daily volume of 4,970,467 shares. The stock had previously closed at $9.07.

Analyst Upgrades and Downgrades

SERV has been the subject of several analyst reports. LADENBURG THALM/SH SH increased their price target on shares of Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Freedom Capital lowered shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Cantor Fitzgerald decreased 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a research report on Friday, March 27th. Finally, Guggenheim started coverage on shares of Serve Robotics in a research report on Monday, April 20th. They set a “buy” rating and a $13.00 price target for the company. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Serve Robotics presently has an average rating of “Moderate Buy” and a consensus price target of $17.51.

Serve Robotics Trading Down 8.8%

The company has a market capitalization of $639.85 million, a PE ratio of -4.11 and a beta of 0.53. The business’s 50-day simple moving average is $8.91 and its 200-day simple moving average is $10.21.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.98 million for the quarter, compared to analysts’ expectations of $2.83 million. Sell-side analysts forecast that Serve Robotics Inc. will post -2.64 EPS for the current fiscal year.

Insider Buying and Selling at Serve Robotics

In other Serve Robotics news, CEO Ali Kashani sold 14,644 shares of the firm’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $9.26, for a total transaction of $135,603.44. Following the completion of the transaction, the chief executive officer directly owned 3,293,976 shares of the company’s stock, valued at approximately $30,502,217.76. This trade represents a 0.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Touraj Parang sold 5,993 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $9.29, for a total transaction of $55,674.97. Following the sale, the chief operating officer directly owned 1,306,351 shares in the company, valued at $12,136,000.79. The trade was a 0.46% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 82,170 shares of company stock valued at $760,482. 5.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Serve Robotics

A number of hedge funds and other institutional investors have recently made changes to their positions in SERV. Goldman Sachs Group Inc. grew its stake in shares of Serve Robotics by 280.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 297,138 shares of the company’s stock worth $1,709,000 after purchasing an additional 219,018 shares during the period. Creative Planning grew its stake in shares of Serve Robotics by 25.9% during the 2nd quarter. Creative Planning now owns 12,923 shares of the company’s stock worth $148,000 after purchasing an additional 2,655 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Serve Robotics by 294.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 29,905 shares of the company’s stock worth $342,000 after purchasing an additional 22,320 shares during the period. Rhumbline Advisers acquired a new stake in shares of Serve Robotics during the 2nd quarter worth approximately $767,000. Finally, American Century Companies Inc. acquired a new stake in shares of Serve Robotics during the 2nd quarter worth approximately $122,000.

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.