Serve Robotics (NASDAQ:SERV) Trading Up 14.4% – Here’s What Happened

Serve Robotics Inc. (NASDAQ:SERV)’s stock price shot up 14.4% during trading on Thursday . The stock traded as high as $16.08 and last traded at $15.41. 23,542,691 shares were traded during mid-day trading, an increase of 100% from the average session volume of 11,751,727 shares. The stock had previously closed at $13.47.

Analyst Ratings Changes

A number of analysts have recently issued reports on SERV shares. Oppenheimer assumed coverage on shares of Serve Robotics in a research report on Thursday, December 18th. They set an “outperform” rating and a $20.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday, December 29th. Freedom Capital raised Serve Robotics to a “strong-buy” rating in a research note on Wednesday, December 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of Serve Robotics in a research note on Monday, November 17th. Finally, Loop Capital set a $16.00 target price on Serve Robotics in a report on Wednesday, December 31st. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.80.

Serve Robotics Trading Up 14.4%

The company’s 50-day moving average is $10.93 and its 200-day moving average is $11.47. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -10.34 and a beta of 0.27.

Serve Robotics (NASDAQ:SERV) last issued its 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 firm had revenue of $0.69 million during the quarter, compared to analyst estimates of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. Equities research analysts forecast that Serve Robotics Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling

In other news, COO Touraj Parang sold 5,000 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $13.07, for a total transaction of $65,350.00. Following the completion of the transaction, the chief operating officer directly owned 1,333,691 shares of the company’s stock, valued at $17,431,341.37. This represents a 0.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian Read sold 6,700 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $13.15, for a total value of $88,105.00. Following the completion of the transaction, the chief financial officer owned 337,199 shares in the company, valued at approximately $4,434,166.85. The trade was a 1.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 187,262 shares of company stock valued at $2,237,852. Company insiders own 5.50% of the company’s stock.

Institutional Trading of Serve Robotics

Institutional investors and hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC bought a new stake in Serve Robotics during the 3rd quarter valued at $27,000. Allworth Financial LP raised its stake in shares of Serve Robotics by 316.7% during the second quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock valued at $45,000 after acquiring an additional 2,964 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of Serve Robotics by 166.8% during the third 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 period. Ameritas Investment Partners Inc. purchased a new stake in shares of Serve Robotics during the second quarter worth about $55,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Serve Robotics in the third quarter worth about $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.