Serve Robotics (NASDAQ:SERV) Shares Down 4.4% – Here’s What Happened

Shares of Serve Robotics Inc. (NASDAQ:SERV) traded down 4.4% during trading on Friday . The stock traded as low as $14.95 and last traded at $14.7340. 3,978,174 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 10,236,290 shares. The stock had previously closed at $15.41.

Wall Street Analysts Forecast Growth

SERV has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a report on Monday, December 29th. Northland Securities reissued an “outperform” rating and set a $26.00 price objective on shares of Serve Robotics in a research note on Friday, January 2nd. LADENBURG THALM/SH SH raised Serve Robotics to a “strong-buy” rating in a research report on Thursday, December 18th. Loop Capital set a $16.00 target price on Serve Robotics in a report on Wednesday, December 31st. Finally, Oppenheimer initiated coverage on Serve Robotics in a research note on Thursday, December 18th. They set an “outperform” rating and a $20.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.80.

Serve Robotics Stock Down 5.2%

The stock has a market cap of $1.09 billion, a P/E ratio of -9.81 and a beta of 0.27. The firm’s 50 day simple moving average is $10.98 and its two-hundred day simple moving average is $11.50.

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.17). The company had revenue of $0.69 million during the quarter, compared to the consensus estimate of $0.69 million. Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%. As a group, equities analysts predict that Serve Robotics Inc. will post -0.98 EPS for the current year.

Insider Buying and Selling at Serve Robotics

In other Serve Robotics news, insider Anthony Armenta sold 5,003 shares of Serve Robotics stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $11.96, for a total value of $59,835.88. Following the transaction, the insider owned 555,034 shares in the company, valued at approximately $6,638,206.64. The trade was a 0.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian Read sold 6,700 shares of Serve Robotics stock in a transaction on Friday, December 12th. The stock was sold at an average price of $13.15, for a total value of $88,105.00. Following the completion of the transaction, the chief financial officer owned 337,199 shares in the company, valued at $4,434,166.85. The trade was a 1.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 187,262 shares of company stock valued at $2,237,852 over the last 90 days. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Serve Robotics by 25.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock worth $30,178,000 after purchasing an additional 521,945 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Serve Robotics by 11.3% in the third quarter. Exchange Traded Concepts LLC now owns 1,109,001 shares of the company’s stock valued at $12,898,000 after purchasing an additional 112,718 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Serve Robotics by 176.0% in the second quarter. Geode Capital Management LLC now owns 878,668 shares of the company’s stock worth $10,054,000 after buying an additional 560,361 shares during the period. First Trust Advisors LP purchased a new position in shares of Serve Robotics during the third quarter valued at $8,840,000. Finally, Legal & General Group Plc raised its position in Serve Robotics by 8.3% during the third quarter. Legal & General Group Plc now owns 751,834 shares of the company’s stock valued at $8,816,000 after buying an additional 57,905 shares during the period.

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.