Serve Robotics (NASDAQ:SERV) CEO Sells $174,312.60 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 16,170 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $10.78, for a total value of $174,312.60. Following the completion of the transaction, the chief executive officer owned 3,391,592 shares in the company, valued at $36,561,361.76. This trade represents a 0.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ali Kashani also recently made the following trade(s):

• On Wednesday, November 5th, Ali Kashani sold 13,310 shares of Serve Robotics stock. The shares were sold at an average price of $11.63, for a total value of $154,795.30.
• On Tuesday, October 7th, Ali Kashani sold 12,930 shares of Serve Robotics stock. The shares were sold at an average price of $15.08, for a total value of $194,984.40.
• On Monday, September 8th, Ali Kashani sold 164,735 shares of Serve Robotics stock. The shares were sold at an average price of $10.33, for a total transaction of $1,701,712.55.

Serve Robotics Trading Down 8.4%

NASDAQ SERV traded down $0.98 during trading on Thursday, reaching $10.70. The company’s stock had a trading volume of 5,900,610 shares, compared to its average volume of 8,224,430. The stock has a market capitalization of $640.74 million, a PE ratio of -9.30 and a beta of -0.80. Serve Robotics Inc. has a 1-year low of $4.66 and a 1-year high of $24.35. The business has a 50-day moving average price of $12.91 and a 200-day moving average price of $11.09.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.13). Serve Robotics had a negative return on equity of 36.47% and a negative net margin of 3,726.00%.The business had revenue of $0.64 million for the quarter, compared to analyst estimates of $0.63 million. As a group, analysts expect that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SERV. Singular Research upgraded Serve Robotics to a “moderate buy” rating in a report on Tuesday, August 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a research note on Wednesday, October 8th. Seaport Res Ptn cut Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. Northland Securities set a $26.00 price target on Serve Robotics in a report on Monday, October 13th. Finally, Wedbush initiated coverage on shares of Serve Robotics in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 price objective for the company. Four 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.33.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SERV. Exchange Traded Concepts LLC boosted its position in shares of Serve Robotics by 11.3% in the third quarter. Exchange Traded Concepts LLC now owns 1,109,001 shares of the company’s stock valued at $12,898,000 after acquiring an additional 112,718 shares during the period. Geode Capital Management LLC raised its stake in Serve Robotics by 176.0% during the 2nd quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock valued at $10,054,000 after purchasing an additional 560,361 shares during the last quarter. Capital Fund Management S.A. bought a new stake in Serve Robotics in the 1st quarter valued at $4,244,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Serve Robotics by 6.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 721,826 shares of the company’s stock worth $8,258,000 after purchasing an additional 42,812 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Serve Robotics by 14.9% during the 2nd quarter. Legal & General Group Plc now owns 693,929 shares of the company’s stock worth $7,261,000 after purchasing an additional 89,809 shares during the period.

Serve Robotics Company Profile

Serve Robotics Inc designs, develops, and operates low-emission robots that serve people in public spaces with food delivery in the United States. It builds self-driving delivery robots. The company was formerly known as Patricia Acquisition Corp. and changed its name to Serve Robotics Inc in July 2023.