Serve Robotics (NASDAQ:SERV) CEO Sells $194,984.40 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 12,930 shares of Serve Robotics stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $15.08, for a total value of $194,984.40. Following the completion of the transaction, the chief executive officer directly owned 3,421,072 shares of the company’s stock, valued at approximately $51,589,765.76. This represents a 0.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ali Kashani also recently made the following trade(s):

• On Monday, September 8th, Ali Kashani sold 164,735 shares of Serve Robotics stock. The shares were sold at an average price of $10.33, for a total value of $1,701,712.55.
• On Tuesday, August 5th, Ali Kashani sold 7,467 shares of Serve Robotics stock. The shares were sold at an average price of $10.74, for a total value of $80,195.58.

Serve Robotics Price Performance

NASDAQ SERV opened at $17.68 on Friday. The company has a market cap of $1.06 billion, a P/E ratio of -15.37 and a beta of -0.70. The stock has a 50-day moving average of $11.41 and a two-hundred day moving average of $9.92. Serve Robotics Inc. has a 1-year low of $4.66 and a 1-year high of $24.35.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.13). Serve Robotics had a negative return on equity of 36.47% and a negative net margin of 3,726.00%.The company had revenue of $0.64 million for the quarter, compared to analyst estimates of $0.63 million. On average, analysts anticipate that Serve Robotics Inc. will post -0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Serve Robotics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Total Investment Management Inc. acquired a new position in Serve Robotics in the second quarter valued at approximately $76,000. Advisory Services Network LLC purchased a new stake in Serve Robotics in the second quarter valued at approximately $499,000. Headlands Technologies LLC lifted its stake in Serve Robotics by 58,553.6% in the second quarter. Headlands Technologies LLC now owns 16,423 shares of the company’s stock valued at $188,000 after buying an additional 16,395 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Serve Robotics by 2,385.2% in the second quarter. Tower Research Capital LLC TRC now owns 27,412 shares of the company’s stock valued at $314,000 after buying an additional 26,309 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Serve Robotics by 16.5% in the second quarter. Captrust Financial Advisors now owns 479,347 shares of the company’s stock valued at $5,484,000 after buying an additional 67,770 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SERV. Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a research report on Wednesday. Wedbush began coverage on Serve Robotics in a research report on Wednesday, August 27th. They set an “outperform” rating and a $15.00 price objective for the company. Seaport Res Ptn downgraded Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. Finally, Singular Research raised Serve Robotics to a “moderate buy” rating in a research report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Serve Robotics currently has an average rating of “Moderate Buy” and a consensus price target of $17.75.

Serve Robotics Company Profile

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.