Serve Robotics (NASDAQ:SERV) Trading Down 2.7% on Insider Selling

Shares of Serve Robotics Inc. (NASDAQ:SERV) were down 2.7% during mid-day trading on Thursday following insider selling activity. The company traded as low as $14.30 and last traded at $14.58. Approximately 7,292,267 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 9,788,771 shares. The stock had previously closed at $14.99.

Specifically, insider Anthony Armenta sold 3,893 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $14.27, for a total value of $55,553.11. Following the transaction, the insider directly 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 filing with the SEC, which is available at this link. Also, CEO Ali Kashani sold 9,088 shares of the company’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $14.30, for a total value of $129,958.40. Following the completion of the sale, the chief executive officer owned 3,365,774 shares of the company’s stock, valued at approximately $48,130,568.20. The trade was a 0.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other news, COO Touraj Parang sold 4,008 shares of Serve Robotics stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $14.30, for a total transaction of $57,314.40. Following the transaction, the chief operating officer owned 1,329,683 shares in the company, valued at $19,014,466.90. The trade was a 0.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SERV shares. Northland Securities restated an “outperform” rating and set a $26.00 price objective on shares of Serve Robotics in a research report on Friday, January 2nd. LADENBURG THALM/SH SH raised shares of Serve Robotics to a “strong-buy” rating in a research note on Thursday, December 18th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Loop Capital set a $16.00 price objective on Serve Robotics in a report on Wednesday, December 31st. Finally, Oppenheimer started coverage on Serve Robotics in a research note on Thursday, December 18th. They set an “outperform” rating and a $20.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.80.

Serve Robotics Trading Down 2.7%

The company has a fifty day moving average of $11.16 and a 200-day moving average of $11.61. The stock has a market cap of $1.09 billion, a PE ratio of -9.79 and a beta of 0.27.

Serve Robotics (NASDAQ:SERV) last announced its earnings results on Wednesday, November 12th. The company reported ($0.54) 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 analysts’ expectations of $0.69 million. Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. As a group, research analysts anticipate that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC increased its stake in Serve Robotics by 12.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company’s stock worth $12,950,000 after buying an additional 138,558 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Serve Robotics by 28.5% in the third quarter. JPMorgan Chase & Co. now owns 38,422 shares of the company’s stock worth $447,000 after acquiring an additional 8,517 shares in the last quarter. Cambria Investment Management L.P. increased its position in shares of Serve Robotics by 25.0% during the third quarter. Cambria Investment Management L.P. now owns 74,391 shares of the company’s stock worth $865,000 after acquiring an additional 14,877 shares during the period. Captrust Financial Advisors raised its stake in shares of Serve Robotics by 23.0% in the third quarter. Captrust Financial Advisors now owns 589,441 shares of the company’s stock valued at $6,855,000 after acquiring an additional 110,094 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Serve Robotics by 258.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 8,432 shares of the company’s stock valued at $98,000 after acquiring an additional 6,080 shares in 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.