David Michael Goldberg Sells 10,600 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) Director David Michael Goldberg sold 10,600 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $7.20, for a total value of $76,320.00. Following the completion of the sale, the director owned 35,125 shares of the company’s stock, valued at approximately $252,900. The trade was a 23.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Serve Robotics Stock Up 4.5%

NASDAQ:SERV traded up $0.30 during trading hours on Thursday, hitting $6.99. 7,462,605 shares of the stock traded hands, compared to its average volume of 5,155,825. Serve Robotics Inc. has a 1 year low of $6.49 and a 1 year high of $18.64. The company has a market cap of $540.82 million, a price-to-earnings ratio of -3.48 and a beta of 0.53. The stock has a 50 day moving average price of $8.63 and a 200 day moving average price of $10.05.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%.The firm had revenue of $2.98 million during the quarter, compared to analysts’ expectations of $2.83 million. Equities analysts forecast that Serve Robotics Inc. will post -2.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Cantor Fitzgerald lowered their price objective on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. LADENBURG THALM/SH SH increased their target price on Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Guggenheim assumed coverage on Serve Robotics in a report on Monday, April 20th. They issued a “buy” rating and a $13.00 price target on the stock. Freedom Capital downgraded Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings raised shares of Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.51.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SERV. Bank of America Corp DE increased its stake in Serve Robotics by 42.3% in the 1st quarter. Bank of America Corp DE now owns 154,849 shares of the company’s stock worth $1,307,000 after buying an additional 46,017 shares during the period. EverSource Wealth Advisors LLC boosted its position in Serve Robotics by 65.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,274 shares of the company’s stock valued at $45,000 after buying an additional 2,082 shares during the period. Quantinno Capital Management LP purchased a new stake in Serve Robotics in the 1st quarter valued at about $270,000. Themes Management Co LLC grew its stake in Serve Robotics by 110.0% in the 1st quarter. Themes Management Co LLC now owns 84,703 shares of the company’s stock worth $715,000 after acquiring an additional 44,377 shares in the last quarter. Finally, Next Capital Management LLC grew its stake in Serve Robotics by 60.9% in the 1st quarter. Next Capital Management LLC now owns 26,425 shares of the company’s stock worth $223,000 after acquiring an additional 10,000 shares in the last quarter.

Serve Robotics Company Profile

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.