Serve Robotics (NASDAQ:SERV) Director David Michael Goldberg Sells 10,600 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) Director David Michael Goldberg sold 10,600 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $7.20, for a total value of $76,320.00. Following the completion of the transaction, the director directly owned 35,125 shares in the company, valued at approximately $252,900. This trade represents a 23.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Serve Robotics Stock Performance

NASDAQ SERV traded up $0.30 on Thursday, reaching $6.99. 7,462,605 shares of the stock traded hands, compared to its average volume of 5,155,825. Serve Robotics Inc. has a 12 month low of $6.49 and a 12 month high of $18.64. The company has a market cap of $540.82 million, a price-to-earnings ratio of -3.48 and a beta of 0.53. The company has a fifty day moving average price of $8.63 and a 200-day moving average price of $10.05.

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). The firm had revenue of $2.98 million for the quarter, compared to the consensus estimate of $2.83 million. Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%. As a group, research analysts anticipate that Serve Robotics Inc. will post -2.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Serve Robotics

Several institutional investors and hedge funds have recently bought and sold shares of SERV. Vanguard Group Inc. boosted its holdings in Serve Robotics by 25.2% in the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock worth $30,178,000 after acquiring an additional 521,945 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Serve Robotics by 29.1% during the fourth quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company’s stock valued at $15,137,000 after acquiring an additional 328,405 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Serve Robotics by 12.5% during 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 position in shares of Serve Robotics by 29.5% in the 4th quarter. State Street Corp now owns 1,245,411 shares of the company’s stock valued at $12,927,000 after purchasing an additional 283,497 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Serve Robotics by 34.5% in the 4th quarter. First Trust Advisors LP now owns 1,022,459 shares of the company’s stock valued at $10,613,000 after purchasing an additional 262,348 shares during the last quarter.

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.