Serve Robotics (NASDAQ:SERV) Insider Sells $22,481.20 in Stock

Serve Robotics Inc. (NASDAQ:SERV) insider Euan Abraham sold 1,480 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $15.19, for a total transaction of $22,481.20. Following the completion of the sale, the insider directly owned 250,539 shares in the company, valued at $3,805,687.41. This represents a 0.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Euan Abraham also recently made the following trade(s):

• On Friday, September 19th, Euan Abraham sold 25,000 shares of Serve Robotics stock. The stock was sold at an average price of $14.99, for a total transaction of $374,750.00.
• On Thursday, September 18th, Euan Abraham sold 8,433 shares of Serve Robotics stock. The stock was sold at an average price of $12.38, for a total transaction of $104,400.54.
• On Monday, September 8th, Euan Abraham sold 12,603 shares of Serve Robotics stock. The stock was sold at an average price of $10.60, for a total transaction of $133,591.80.
• On Tuesday, August 5th, Euan Abraham sold 2,130 shares of Serve Robotics stock. The stock was sold at an average price of $10.64, for a total transaction of $22,663.20.

Serve Robotics Stock Performance

SERV stock opened at $17.68 on Friday. The company has a market capitalization of $1.06 billion, a PE ratio of -15.37 and a beta of -0.70. Serve Robotics Inc. has a one year low of $4.66 and a one year high of $24.35. The company’s 50 day moving average price is $11.41 and its two-hundred day moving average price is $9.92.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.13). The business had revenue of $0.64 million for the quarter, compared to analysts’ expectations of $0.63 million. Serve Robotics had a negative return on equity of 36.47% and a negative net margin of 3,726.00%. On average, research analysts predict that Serve Robotics Inc. will post -0.98 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on SERV. Singular Research raised shares of Serve Robotics to a “moderate buy” rating in a research note on Tuesday, August 26th. Wedbush began coverage on shares of Serve Robotics in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Serve Robotics in a research note on Wednesday. Finally, Seaport Res Ptn downgraded shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Serve Robotics currently has an average rating of “Moderate Buy” and an average target price of $17.75.

Institutional Trading of Serve Robotics

Several large investors have recently added to or reduced their stakes in SERV. Capital Fund Management S.A. bought a new stake in Serve Robotics in the first quarter valued at $4,244,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 acquiring an additional 584,302 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Serve Robotics by 176.0% in 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 in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Serve Robotics in the first quarter valued at $2,064,000. Finally, Bank of America Corp DE boosted its holdings in Serve Robotics by 157.9% in the second quarter. Bank of America Corp DE now owns 401,557 shares of the company’s stock valued at $4,594,000 after acquiring an additional 245,858 shares in the last quarter.

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.