Serve Robotics (NASDAQ:SERV) Trading Down 5.2% – Here’s Why

Serve Robotics Inc. (NASDAQ:SERV)’s stock price traded down 5.2% on Monday . The stock traded as low as $9.67 and last traded at $9.73. 3,088,277 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 8,031,798 shares. The stock had previously closed at $10.26.

Analyst Upgrades and Downgrades

SERV has been the subject of several analyst reports. 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. Singular Research upgraded Serve Robotics to a “moderate buy” rating in a report on Tuesday, August 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday, November 24th. Seaport Res Ptn downgraded Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Serve Robotics in a research note on Monday, November 17th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.33.

Serve Robotics Stock Down 5.2%

The firm has a market cap of $724.69 million, a price-to-earnings ratio of -6.53 and a beta of -0.10. The company’s 50-day moving average price is $12.38 and its 200-day moving average price is $11.48.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.17). The business had revenue of $0.69 million during the quarter, compared to analyst estimates of $0.69 million. Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. Serve Robotics has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. On average, sell-side analysts predict that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Serve Robotics news, insider Anthony Armenta sold 49,082 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $9.32, for a total value of $457,444.24. Following the sale, the insider owned 560,037 shares of the company’s stock, valued at $5,219,544.84. This trade represents a 8.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Touraj Parang sold 6,100 shares of the business’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $10.74, for a total value of $65,514.00. Following the transaction, the chief operating officer directly owned 1,344,991 shares of the company’s stock, valued at approximately $14,445,203.34. This represents a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 458,709 shares of company stock valued at $5,301,845. 21.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SERV. Arkadios Wealth Advisors acquired a new position in Serve Robotics during the 1st quarter worth approximately $74,000. Charles Schwab Investment Management Inc. lifted its position in shares of Serve Robotics by 13.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,728 shares of the company’s stock worth $73,000 after purchasing an additional 1,545 shares during the last quarter. Swiss National Bank acquired a new position in shares of Serve Robotics during the first quarter worth $305,000. Virtu Financial LLC grew its stake in shares of Serve Robotics by 71.5% during the first quarter. Virtu Financial LLC now owns 59,054 shares of the company’s stock worth $340,000 after purchasing an additional 24,614 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Serve Robotics in the first quarter valued at $146,000.

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.