Serve Robotics (NASDAQ:SERV) Trading 7.6% Higher – Still a Buy?

Serve Robotics Inc. (NASDAQ:SERV) shares shot up 7.6% during trading on Monday . The stock traded as high as $9.89 and last traded at $9.81. 1,466,954 shares traded hands during trading, a decline of 75% from the average session volume of 5,887,158 shares. The stock had previously closed at $9.12.

Wall Street Analysts Forecast Growth

SERV has been the topic of a number of analyst reports. LADENBURG THALM/SH SH raised Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. Northland Securities reissued an “outperform” rating and set a $26.00 price objective on shares of Serve Robotics in a research report on Friday, January 2nd. Freedom Capital upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Wednesday, December 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a report on Monday, December 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Serve Robotics in a research note on Monday, November 17th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $18.80.

Serve Robotics Trading Up 7.0%

The stock has a fifty day simple moving average of $11.28 and a 200-day simple moving average of $11.65. The company has a market capitalization of $738.66 million, a PE ratio of -6.16 and a beta of 0.92.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings data on Wednesday, March 11th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.03. Serve Robotics had a negative return on equity of 38.54% and a negative net margin of 3,821.98%.The business had revenue of $0.88 million for the quarter, compared to the consensus estimate of $0.77 million. As a group, equities research analysts predict that Serve Robotics Inc. will post -0.98 EPS for the current year.

Insider Activity at Serve Robotics

In other Serve Robotics news, insider Anthony Armenta sold 3,893 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $14.27, for a total transaction of $55,553.11. Following the sale, the insider owned 551,141 shares of the company’s stock, valued at approximately $7,864,782.07. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ali Kashani sold 13,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $9.72, for a total transaction of $131,220.00. Following the sale, the chief executive officer owned 3,334,914 shares of the company’s stock, valued at $32,415,364.08. This represents a 0.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 92,037 shares of company stock valued at $1,032,519. Company insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

A number of institutional investors and hedge funds have recently bought and sold shares of SERV. Farther Finance Advisors LLC purchased a new position in shares of Serve Robotics during the third quarter worth about $27,000. Quadrant Capital Group LLC acquired a new stake in shares of Serve Robotics during the fourth quarter worth about $31,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Serve Robotics in the 4th quarter valued at about $31,000. EverSource Wealth Advisors LLC boosted its position in shares of Serve Robotics by 299.0% in the 4th 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 period. Finally, CWM LLC grew its stake in Serve Robotics by 514.1% during the 4th quarter. CWM LLC now owns 3,439 shares of the company’s stock worth $36,000 after buying an additional 2,879 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.