Police & Firemen s Retirement System of New Jersey Takes Position in Serve Robotics Inc. $SERV

Police & Firemen s Retirement System of New Jersey acquired a new position in Serve Robotics Inc. (NASDAQ:SERV) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 10,976 shares of the company’s stock, valued at approximately $126,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC grew its stake in Serve Robotics by 12.9% in the 2nd quarter. Exchange Traded Concepts LLC now owns 996,283 shares of the company’s stock valued at $11,397,000 after buying an additional 113,761 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Serve Robotics by 176.0% during the second quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock valued at $10,054,000 after acquiring an additional 560,361 shares during the period. Capital Fund Management S.A. acquired a new stake in shares of Serve Robotics in the first quarter valued at about $4,244,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Serve Robotics by 616.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company’s stock valued at $3,972,000 after purchasing an additional 584,302 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Serve Robotics in the first quarter worth about $2,064,000.

Insider Buying and Selling

In other news, insider Euan Abraham sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $14.99, for a total transaction of $374,750.00. Following the completion of the transaction, the insider directly owned 227,019 shares of the company’s stock, valued at approximately $3,403,014.81. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ali Kashani sold 164,735 shares of Serve Robotics stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $10.33, for a total transaction of $1,701,712.55. Following the sale, the chief executive officer owned 3,434,002 shares in the company, valued at approximately $35,473,240.66. This trade represents a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 458,709 shares of company stock worth $5,301,845. Insiders own 5.50% of the company’s stock.

Serve Robotics Trading Up 1.7%

Shares of SERV stock opened at $10.27 on Friday. Serve Robotics Inc. has a 12 month low of $4.66 and a 12 month high of $24.35. The company has a market capitalization of $764.91 million, a P/E ratio of -6.89 and a beta of -0.80. The stock has a 50 day moving average of $12.38 and a two-hundred day moving average of $11.46.

Serve Robotics (NASDAQ:SERV) last issued 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 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. Sell-side analysts predict that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SERV has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday, November 24th. Wedbush started coverage on Serve Robotics in a research report on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 price objective for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Serve Robotics in a research note on Monday, November 17th. Seaport Res Ptn lowered shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 11th. Finally, Northland Securities set a $26.00 target price on shares of Serve Robotics in a research note on Monday, October 13th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.33.

Serve Robotics 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.