Serve Robotics Inc. (NASDAQ:SERV) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Serve Robotics Inc. (NASDAQ:SERV) have been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $19.3333.

SERV has been the topic of a number of analyst reports. Seaport Res Ptn cut Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 11th. Citigroup reissued an “outperform” rating on shares of Serve Robotics in a research note on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a research note on Wednesday, October 8th. Northland Securities set a $26.00 price target on Serve Robotics in a research note on Monday, October 13th. Finally, Singular Research raised Serve Robotics to a “moderate buy” rating in a research note on Tuesday, August 26th.

Insider Transactions at Serve Robotics

In other Serve Robotics news, insider Euan Abraham sold 25,000 shares of Serve Robotics stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $14.99, for a total transaction of $374,750.00. Following the transaction, the insider owned 227,019 shares of the company’s stock, valued at $3,403,014.81. The trade was a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brian Read sold 10,216 shares of Serve Robotics stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $9.82, for a total value of $100,321.12. Following the transaction, the chief financial officer directly owned 373,263 shares in the company, valued at approximately $3,665,442.66. This trade represents a 2.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 367,476 shares of company stock worth $4,346,664 in the last three months. Insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp grew its position in Serve Robotics by 117.2% during the third quarter. Jones Financial Companies Lllp now owns 6,632 shares of the company’s stock valued at $77,000 after purchasing an additional 3,579 shares in the last quarter. Phoenix Financial Ltd. grew its position in Serve Robotics by 13.3% during the third quarter. Phoenix Financial Ltd. now owns 17,000 shares of the company’s stock valued at $198,000 after purchasing an additional 2,000 shares in the last quarter. PFG Investments LLC grew its position in Serve Robotics by 30.6% during the third quarter. PFG Investments LLC now owns 43,991 shares of the company’s stock valued at $512,000 after purchasing an additional 10,300 shares in the last quarter. Global Retirement Partners LLC grew its position in Serve Robotics by 1,250.1% during the third quarter. Global Retirement Partners LLC now owns 13,501 shares of the company’s stock valued at $157,000 after purchasing an additional 12,501 shares in the last quarter. Finally, Chico Wealth RIA purchased a new position in Serve Robotics during the third quarter valued at approximately $343,000.

Serve Robotics Price Performance

NASDAQ SERV opened at $11.69 on Wednesday. The company’s 50 day simple moving average is $12.91 and its 200 day simple moving average is $11.08. Serve Robotics has a 12 month low of $4.66 and a 12 month high of $24.35. The company has a market capitalization of $700.00 million, a P/E ratio of -10.17 and a beta of -0.80.

Serve Robotics (NASDAQ:SERV) last released its earnings results 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 business had revenue of $0.64 million during the quarter, compared to the consensus estimate of $0.63 million. On average, analysts anticipate that Serve Robotics will post -0.98 earnings per share for the current year.

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.