Serve Robotics (NASDAQ:SERV) Stock Price Up 10.6% – What’s Next?

Shares of Serve Robotics Inc. (NASDAQ:SERV) were up 10.6% during trading on Monday . The stock traded as high as $9.74 and last traded at $9.58. Approximately 5,616,236 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 8,120,961 shares. The stock had previously closed at $8.66.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wedbush began coverage on shares of Serve Robotics in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 price target for the company. Citigroup reiterated an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Singular Research upgraded Serve Robotics to a “moderate buy” rating in a report on Tuesday, August 26th. Northland Securities set a $26.00 price target on Serve Robotics in a research report on Monday, October 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday, November 17th. Four 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.33.

Serve Robotics Price Performance

The stock has a market cap of $713.52 million, a price-to-earnings ratio of -6.43 and a beta of -0.79. The business’s 50 day moving average is $12.59 and its 200 day moving average is $11.44.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings results 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 business had revenue of $0.69 million for the quarter, compared to analysts’ expectations of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. Serve Robotics has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. As a group, analysts forecast that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Insider Activity

In other news, insider Euan Abraham sold 3,915 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $11.69, for a total value of $45,766.35. Following the completion of the transaction, the insider owned 246,624 shares in the company, valued at approximately $2,883,034.56. This represents a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ali Kashani sold 16,170 shares of the stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $10.78, for a total transaction of $174,312.60. Following the completion of the transaction, the chief executive officer directly owned 3,391,592 shares in the company, valued at $36,561,361.76. This trade represents a 0.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 458,709 shares of company stock valued at $5,301,845 over the last 90 days. Insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

Several hedge funds and other institutional investors have recently bought and sold shares of SERV. Farther Finance Advisors LLC acquired a new position in Serve Robotics in the third quarter valued at $27,000. Allworth Financial LP lifted its holdings in shares of Serve Robotics by 316.7% in the 2nd 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 during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Serve Robotics in the 1st quarter valued at about $49,000. SBI Securities Co. Ltd. grew its stake in 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 buying an additional 2,637 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in Serve Robotics during the second quarter worth approximately $55,000.

About Serve Robotics

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.