Serve Robotics (NASDAQ:SERV) Shares Down 1.5% – Should You Sell?

Serve Robotics Inc. (NASDAQ:SERV)’s stock price dropped 1.5% during mid-day trading on Tuesday . The stock traded as low as $10.52 and last traded at $10.86. Approximately 3,618,377 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 8,048,660 shares. The stock had previously closed at $11.02.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wedbush started coverage on Serve Robotics in a research report on Wednesday, August 27th. They set an “outperform” rating and a $15.00 target price for the company. Northland Securities set a $26.00 price objective on shares of Serve Robotics in a report on Monday, October 13th. LADENBURG THALM/SH SH raised shares of Serve Robotics to a “strong-buy” rating in a research note on Thursday, December 18th. Citigroup reissued an “outperform” rating on shares of Serve Robotics in a research report on Monday, October 13th. Finally, Singular Research raised shares of Serve Robotics to a “moderate buy” rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.50.

Serve Robotics Stock Performance

The stock has a market cap of $808.85 million, a P/E ratio of -7.29 and a beta of -0.10. The stock has a fifty day simple moving average of $11.75 and a 200-day simple moving average of $11.50.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings data on Wednesday, November 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.17). The firm had revenue of $0.69 million for the quarter, compared to the consensus estimate of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. On average, research analysts anticipate that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Insider Activity at Serve Robotics

In related news, insider Anthony Armenta sold 49,082 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $9.32, for a total value of $457,444.24. Following the completion of the transaction, the insider owned 560,037 shares of the company’s stock, valued at approximately $5,219,544.84. This trade represents a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ali Kashani sold 16,730 shares of Serve Robotics stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $11.87, for a total transaction of $198,585.10. Following the completion of the sale, the chief executive officer owned 3,374,862 shares in the company, valued at $40,059,611.94. The trade was a 0.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 230,895 shares of company stock worth $2,895,554. 21.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Serve Robotics

Several hedge funds have recently modified their holdings of SERV. Farther Finance Advisors LLC bought a new stake in Serve Robotics during the third quarter worth about $27,000. Allworth Financial LP grew its stake in Serve Robotics by 316.7% in the second quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock valued at $45,000 after purchasing an additional 2,964 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Serve Robotics by 166.8% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock worth $49,000 after purchasing an additional 2,637 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Serve Robotics during the 2nd quarter worth approximately $55,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Serve Robotics during the 3rd quarter worth approximately $59,000.

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.