Hsbc Holdings PLC Makes New $1.06 Million Investment in Serve Robotics Inc. $SERV

Hsbc Holdings PLC bought a new position in Serve Robotics Inc. (NASDAQ:SERV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 102,250 shares of the company’s stock, valued at approximately $1,061,000. Hsbc Holdings PLC owned about 0.14% of Serve Robotics as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Exchange Traded Concepts LLC grew its stake in Serve Robotics by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company’s stock worth $12,950,000 after purchasing an additional 138,558 shares in the last quarter. DNB Asset Management AS raised its stake in Serve Robotics by 178.9% during the fourth quarter. DNB Asset Management AS now owns 239,205 shares of the company’s stock valued at $2,483,000 after buying an additional 153,436 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in Serve Robotics during the 4th quarter worth approximately $1,427,000. Legal & General Group Plc lifted its holdings in Serve Robotics by 11.7% during the 4th quarter. Legal & General Group Plc now owns 839,933 shares of the company’s stock worth $8,864,000 after buying an additional 88,099 shares during the last quarter. Finally, Cambria Investment Management L.P. lifted its holdings in Serve Robotics by 25.0% during the 3rd quarter. Cambria Investment Management L.P. now owns 74,391 shares of the company’s stock worth $865,000 after buying an additional 14,877 shares during the last quarter.

Serve Robotics Stock Down 2.2%

Shares of NASDAQ SERV opened at $5.79 on Tuesday. The firm’s 50-day moving average price is $7.60 and its two-hundred day moving average price is $9.40. Serve Robotics Inc. has a 52-week low of $5.63 and a 52-week high of $18.64. The stock has a market capitalization of $447.97 million, a P/E ratio of -2.88 and a beta of 1.04.

Serve Robotics (NASDAQ:SERV) last posted its 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). The company had revenue of $2.98 million for the quarter, compared to the consensus estimate of $2.83 million. Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. As a group, equities research analysts expect that Serve Robotics Inc. will post -2.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SERV has been the subject of a number of research analyst reports. Freedom Capital downgraded Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Weiss Ratings upgraded Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. LADENBURG THALM/SH SH lifted their price objective on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Cantor Fitzgerald lowered 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. Finally, Guggenheim initiated coverage on shares of Serve Robotics in a report on Monday, April 20th. They set a “buy” rating and a $13.00 target price on the stock. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Serve Robotics presently has an average rating of “Moderate Buy” and a consensus price target of $17.51.

Insider Buying and Selling

In other news, Director David Michael Goldberg sold 10,600 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $7.20, for a total transaction of $76,320.00. Following the completion of the transaction, the director owned 35,125 shares of the company’s stock, valued at approximately $252,900. The trade was a 23.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Touraj Parang sold 5,993 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $9.29, for a total transaction of $55,674.97. Following the transaction, the chief operating officer owned 1,306,351 shares of the company’s stock, valued at $12,136,000.79. This represents a 0.46% 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. Insiders have sold 72,648 shares of company stock valued at $607,904 in the last 90 days. Corporate insiders own 5.00% of the company’s stock.

Serve Robotics 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.