Serve Robotics (NASDAQ:SERV) CEO Sells $115,007.40 in Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 15,885 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $7.24, for a total value of $115,007.40. Following the sale, the chief executive officer owned 3,278,091 shares of the company’s stock, valued at approximately $23,733,378.84. This trade represents a 0.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, May 7th, Ali Kashani sold 14,644 shares of Serve Robotics stock. The shares were sold at an average price of $9.26, for a total value of $135,603.44.
• On Wednesday, May 6th, Ali Kashani sold 11,753 shares of Serve Robotics stock. The shares were sold at an average price of $9.29, for a total value of $109,185.37.
• On Wednesday, April 8th, Ali Kashani sold 14,541 shares of Serve Robotics stock. The shares were sold at an average price of $8.62, for a total value of $125,343.42.

Serve Robotics Stock Down 6.3%

Shares of NASDAQ SERV opened at $6.97 on Friday. Serve Robotics Inc. has a fifty-two week low of $6.84 and a fifty-two week high of $18.64. The business has a 50 day moving average price of $8.72 and a two-hundred day moving average price of $10.11. The firm has a market cap of $539.29 million, a PE ratio of -3.47 and a beta of 0.53.

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

Hedge Funds Weigh In On Serve Robotics

Hedge funds have recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Serve Robotics during the 4th quarter valued at $31,000. Quadrant Capital Group LLC acquired a new position in shares of Serve Robotics during the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC increased its position in shares of Serve Robotics by 299.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company’s stock valued at $33,000 after purchasing an additional 2,392 shares during the period. CWM LLC increased its position in shares of Serve Robotics by 514.1% during the 4th quarter. CWM LLC now owns 3,439 shares of the company’s stock valued at $36,000 after purchasing an additional 2,879 shares during the period. Finally, Harbour Investments Inc. increased its position in shares of Serve Robotics by 149.3% during the 4th quarter. Harbour Investments Inc. now owns 3,740 shares of the company’s stock valued at $39,000 after purchasing an additional 2,240 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SERV. LADENBURG THALM/SH SH raised their price objective on Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald cut their price target on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Weiss Ratings downgraded Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 2nd. Freedom Capital downgraded Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Finally, 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. Seven research 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 MarketBeat, Serve Robotics currently has a consensus rating of “Moderate Buy” and an average price target of $17.51.

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.