Serve Robotics (NASDAQ:SERV) Reaches New 52-Week Low – Here’s What Happened

Serve Robotics Inc. (NASDAQ:SERV) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $7.58 and last traded at $7.7140, with a volume of 5917823 shares. The stock had previously closed at $8.41.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SERV shares. Freedom Capital downgraded shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald reduced their target price on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Tuesday, March 17th. Weiss Ratings cut shares of Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. LADENBURG THALM/SH SH upped their target price on shares of Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Guggenheim assumed coverage on shares of Serve Robotics in a report 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 given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Serve Robotics has an average rating of “Moderate Buy” and a consensus price target of $17.51.

Serve Robotics Trading Down 8.9%

The firm has a market cap of $592.75 million, a PE ratio of -3.79 and a beta of 0.53. The stock has a 50 day simple moving average of $8.87 and a 200-day simple moving average of $10.19.

Serve Robotics (NASDAQ:SERV) last issued 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). Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%.The business had revenue of $2.98 million during the quarter, compared to analysts’ expectations of $2.83 million. On average, equities research analysts expect that Serve Robotics Inc. will post -2.64 EPS for the current year.

Insiders Place Their Bets

In other Serve Robotics news, COO Touraj Parang sold 3,888 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $9.26, for a total value of $36,002.88. Following the completion of the sale, the chief operating officer owned 1,302,463 shares in the company, valued at approximately $12,060,807.38. This represents a 0.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 stock in a transaction on Friday, March 13th. The stock was sold at an average price of $9.82, for a total value of $35,027.94. Following the completion of the sale, the insider owned 540,919 shares of the company’s stock, valued at $5,311,824.58. The trade was a 0.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 81,632 shares of company stock worth $755,403. 5.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Serve Robotics

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