Serve Robotics Inc. (NASDAQ:SERV – Get Free Report)’s stock price traded down 6.7% during trading on Wednesday . The stock traded as low as $18.28 and last traded at $18.12. 5,191,331 shares were traded during mid-day trading, a decline of 63% from the average session volume of 14,093,235 shares. The stock had previously closed at $19.41.
Analysts Set New Price Targets
A number of research firms recently weighed in on SERV. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Northland Securities boosted their price target on shares of Serve Robotics from $16.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 15th. LADENBURG THALM/SH SH began coverage on Serve Robotics in a research report on Monday, October 28th. They issued a “buy” rating and a $16.00 price target for the company. Finally, Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Serve Robotics presently has an average rating of “Strong Buy” and a consensus target price of $19.50.
View Our Latest Stock Report on Serve Robotics
Serve Robotics Stock Down 6.2 %
Serve Robotics (NASDAQ:SERV – Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.20) earnings per share for the quarter, hitting the consensus estimate of ($0.20). Serve Robotics had a negative return on equity of 184.60% and a negative net margin of 1,972.12%. The firm had revenue of $0.22 million for the quarter, compared to the consensus estimate of $0.36 million. Equities research analysts anticipate that Serve Robotics Inc. will post -0.98 EPS for the current year.
Insider Buying and Selling
In related news, CEO Ali Kashani sold 37,500 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $21.16, for a total transaction of $793,500.00. Following the sale, the chief executive officer now directly owns 3,230,990 shares of the company’s stock, valued at $68,367,748.40. This trade represents a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Touraj Parang sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $12.99, for a total value of $649,500.00. Following the completion of the transaction, the chief operating officer now directly owns 1,163,439 shares of the company’s stock, valued at $15,113,072.61. The trade was a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 253,027 shares of company stock valued at $3,309,166 over the last quarter. 21.40% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new stake in shares of Serve Robotics during the 4th quarter worth about $27,000. Larson Financial Group LLC acquired a new position in Serve Robotics in the 3rd quarter worth about $26,000. Bfsg LLC purchased a new position in Serve Robotics during the third quarter worth approximately $38,000. SG Americas Securities LLC acquired a new stake in Serve Robotics in the fourth quarter valued at approximately $114,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Serve Robotics in the 3rd quarter valued at $68,000.
About Serve Robotics
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.
Featured Stories
- Five stocks we like better than Serve Robotics
- Investing In Preferred Stock vs. Common Stock
- Oracle Announces Game-Changing News for the AI Industry
- What is the Nikkei 225 index?
- Netflix Adds 19 Million Subscribers, Growth Is Far For Over
- The Risks of Owning Bonds
- Tempus AI: A Game-Changer in AI-Powered Healthcare
Receive News & Ratings for Serve Robotics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Serve Robotics and related companies with MarketBeat.com's FREE daily email newsletter.