Serve Robotics (NASDAQ:SERV) CFO Sells $10,831.04 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CFO Brian Read sold 1,496 shares of Serve Robotics stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $7.24, for a total transaction of $10,831.04. Following the completion of the sale, the chief financial officer owned 317,071 shares of the company’s stock, valued at $2,295,594.04. This trade represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brian Read also recently made the following trade(s):

• On Thursday, May 7th, Brian Read sold 201 shares of Serve Robotics stock. The shares were sold at an average price of $9.26, for a total transaction of $1,861.26.
• On Wednesday, May 6th, Brian Read sold 2,790 shares of Serve Robotics stock. The shares were sold at an average price of $9.29, for a total transaction of $25,919.10.
• On Friday, May 1st, Brian Read sold 1,179 shares of Serve Robotics stock. The shares were sold at an average price of $9.29, for a total transaction of $10,952.91.
• On Wednesday, April 8th, Brian Read sold 200 shares of Serve Robotics stock. The shares were sold at an average price of $8.62, for a total transaction of $1,724.00.

Serve Robotics Stock Up 6.6%

SERV stock traded up $0.46 during midday trading on Thursday, hitting $7.44. The company’s stock had a trading volume of 5,838,226 shares, compared to its average volume of 5,089,571. Serve Robotics Inc. has a 52-week low of $6.84 and a 52-week high of $18.64. The firm has a market capitalization of $575.66 million, a P/E ratio of -3.70 and a beta of 0.53. The firm has a 50-day simple moving average of $8.77 and a 200-day simple moving average of $10.14.

Serve Robotics (NASDAQ:SERV) last issued its quarterly 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). 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 during the quarter, compared to analysts’ expectations of $2.83 million. On average, sell-side analysts expect that Serve Robotics Inc. will post -2.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SERV has been the subject of several recent research reports. Cantor Fitzgerald decreased their price target 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. Guggenheim assumed coverage on shares of Serve Robotics in a research report on Monday, April 20th. They set a “buy” rating and a $13.00 price objective for the company. Freedom Capital cut shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. Weiss Ratings cut shares of Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, June 2nd. Finally, 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 research report on Wednesday, May 13th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.51.

Institutional Investors Weigh In On Serve Robotics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gordian Capital Singapore Pte Ltd purchased a new stake in Serve Robotics in the fourth quarter valued at $31,000. Quadrant Capital Group LLC purchased a new stake in Serve Robotics in the fourth quarter valued at $31,000. EverSource Wealth Advisors LLC lifted its position in Serve Robotics by 299.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after acquiring an additional 2,392 shares during the last quarter. CWM LLC lifted its position in Serve Robotics by 514.1% in the fourth quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after acquiring an additional 2,879 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in Serve Robotics by 149.3% in the fourth quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock valued at $39,000 after acquiring an additional 2,240 shares during the last quarter.

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.