Serve Robotics (NASDAQ:SERV) Downgraded to Hold Rating by Freedom Capital

Serve Robotics (NASDAQ:SERV) was downgraded by Freedom Capital from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

SERV has been the subject of a number of other research reports. LADENBURG THALM/SH SH raised their target price on shares of Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research note on Wednesday. Cantor Fitzgerald decreased their target price on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a research note on Friday, March 27th. Finally, Guggenheim initiated coverage on shares of Serve Robotics in a research note on Monday, April 20th. They set a “buy” rating and a $13.00 target price for the company. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Serve Robotics currently has a consensus rating of “Moderate Buy” and an average target price of $17.51.

Serve Robotics Stock Performance

Shares of NASDAQ SERV opened at $8.63 on Wednesday. Serve Robotics has a fifty-two week low of $7.66 and a fifty-two week high of $18.64. The company has a 50 day simple moving average of $9.13 and a two-hundred day simple moving average of $10.54. The company has a market capitalization of $667.73 million, a price-to-earnings ratio of -4.29 and a beta of 0.96.

Serve Robotics (NASDAQ:SERV) last announced its earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share 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 for the quarter, compared to the consensus estimate of $2.83 million. On average, analysts forecast that Serve Robotics will post -2.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ali Kashani sold 14,644 shares of the business’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 value of $135,603.44. Following the completion of the transaction, the chief executive officer directly owned 3,293,976 shares in the company, valued at $30,502,217.76. The trade was a 0.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Anthony Armenta sold 3,567 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $9.82, for a total transaction of $35,027.94. Following the completion of the transaction, the insider owned 540,919 shares of the company’s stock, valued at approximately $5,311,824.58. The trade was a 0.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 86,870 shares of company stock worth $804,859 in the last three months. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

A number of large investors have recently added to or reduced their stakes in the stock. Next Capital Management LLC grew its position in Serve Robotics by 60.9% in the 1st quarter. Next Capital Management LLC now owns 26,425 shares of the company’s stock worth $223,000 after purchasing an additional 10,000 shares during the period. Swiss National Bank grew its position in Serve Robotics by 5.2% in the 1st quarter. Swiss National Bank now owns 117,800 shares of the company’s stock worth $994,000 after purchasing an additional 5,800 shares during the period. Wealthfront Advisers LLC grew its position in Serve Robotics by 28.7% in the 1st quarter. Wealthfront Advisers LLC now owns 14,791 shares of the company’s stock worth $125,000 after purchasing an additional 3,302 shares during the period. Bank of New York Mellon Corp grew its position in Serve Robotics by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 179,781 shares of the company’s stock worth $1,517,000 after purchasing an additional 27,881 shares during the period. Finally, NFSG Corp grew its position in Serve Robotics by 27.6% in the 1st quarter. NFSG Corp now owns 11,570 shares of the company’s stock worth $98,000 after purchasing an additional 2,500 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.