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

Serve Robotics Inc. (NASDAQ:SERV) has earned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $17.5143.

A number of equities research analysts recently weighed in on SERV shares. Freedom Capital lowered shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. LADENBURG THALM/SH SH raised their target price on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings upgraded Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, July 21st. Finally, Guggenheim started coverage on Serve Robotics in a research note on Monday, April 20th. They issued a “buy” rating and a $13.00 price objective on the stock.

Insider Transactions at Serve Robotics

In other news, Director David Michael Goldberg sold 10,600 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $7.20, for a total transaction of $76,320.00. Following the transaction, the director owned 35,125 shares of the company’s stock, valued at approximately $252,900. This represents a 23.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Touraj Parang sold 4,219 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $7.24, for a total value of $30,545.56. Following the transaction, the chief operating officer owned 1,298,244 shares in the company, valued at approximately $9,399,286.56. This represents a 0.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 71,469 shares of company stock valued at $596,951 over the last 90 days. 5.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new stake in shares of Serve Robotics in the 2nd quarter valued at about $26,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Serve Robotics during the fourth quarter valued at approximately $31,000. Quadrant Capital Group LLC purchased a new position in Serve Robotics during the fourth quarter valued at approximately $31,000. EverSource Wealth Advisors LLC raised its stake in Serve Robotics by 299.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock worth $33,000 after buying an additional 2,392 shares in the last quarter. Finally, CWM LLC lifted its holdings in Serve Robotics by 514.1% during the fourth quarter. CWM LLC now owns 3,439 shares of the company’s stock worth $36,000 after buying an additional 2,879 shares during the period.

Serve Robotics Stock Up 10.1%

Shares of Serve Robotics stock opened at $4.81 on Friday. The stock’s fifty day moving average is $6.66 and its two-hundred day moving average is $8.79. Serve Robotics has a 52 week low of $4.32 and a 52 week high of $18.64. The company has a market capitalization of $372.15 million, a PE ratio of -2.39 and a beta of 1.04.

Serve Robotics (NASDAQ:SERV) last released its earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.08). The business had revenue of $2.98 million for the quarter, compared to the consensus estimate of $2.83 million. Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%. As a group, research analysts anticipate that Serve Robotics will post -2.67 earnings per share for the current year.

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.