Serve Robotics (NASDAQ:SERV) Stock Price Down 5.2% – Time to Sell?

Serve Robotics Inc. (NASDAQ:SERV) was down 5.2% during mid-day trading on Wednesday . The company traded as low as $16.69 and last traded at $16.60. Approximately 2,013,233 shares were traded during trading, a decline of 84% from the average daily volume of 12,778,343 shares. The stock had previously closed at $17.51.

Wall Street Analyst Weigh In

SERV has been the topic of a number of research reports. Seaport Res Ptn raised Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. LADENBURG THALM/SH SH initiated coverage on shares of Serve Robotics in a report on Monday, October 28th. They issued a “buy” rating and a $16.00 price target for the company. Northland Capmk upgraded shares of Serve Robotics to a “strong-buy” rating in a report on Friday, October 18th. Finally, Northland Securities raised their target price on shares of Serve Robotics from $16.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Two analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and an average target price of $19.50.

Serve Robotics Stock Performance

The company has a fifty day simple moving average of $14.58 and a 200-day simple moving average of $11.27.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.20). Serve Robotics had a negative net margin of 1,972.12% and a negative return on equity of 184.60%. The business had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.36 million. Equities analysts expect that Serve Robotics Inc. will post -0.98 earnings per share for the current year.

Insider Transactions at Serve Robotics

In related news, CEO Ali Kashani sold 9,719 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.77, for a total value of $85,235.63. Following the completion of the sale, the chief executive officer now directly owns 3,355,238 shares of the company’s stock, valued at approximately $29,425,437.26. This represents a 0.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Buckly Jordan sold 64,408 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $8.57, for a total value of $551,976.56. Following the sale, the director now owns 449,052 shares of the company’s stock, valued at $3,848,375.64. The trade was a 12.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 253,027 shares of company stock valued at $3,309,166 over the last quarter. Company insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SERV. Larson Financial Group LLC acquired a new stake in shares of Serve Robotics during the 3rd quarter valued at $26,000. Blue Trust Inc. purchased a new stake in shares of Serve Robotics during the fourth quarter worth $27,000. Bogart Wealth LLC acquired a new stake in Serve Robotics during the fourth quarter valued at $37,000. Bfsg LLC purchased a new position in Serve Robotics in the third quarter valued at about $38,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in Serve Robotics in the 3rd quarter worth about $68,000.

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.