Serve Robotics Inc. (NASDAQ:SERV – Get Free Report)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $7.58 and last traded at $7.7140, with a volume of 5917823 shares changing hands. The stock had previously closed at $8.41.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on SERV shares. LADENBURG THALM/SH SH boosted their price target on shares of Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a report on Wednesday, May 13th. Freedom Capital cut shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 13th. Cantor Fitzgerald lowered their price target on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Guggenheim started coverage on shares of Serve Robotics in a report on Monday, April 20th. They set a “buy” rating and a $13.00 price target on the stock. Finally, Weiss Ratings cut shares of Serve Robotics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.51.
Read Our Latest Stock Report on Serve Robotics
Serve Robotics Price Performance
Serve Robotics (NASDAQ:SERV – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.08). The business had revenue of $2.98 million during the quarter, compared to analyst estimates of $2.83 million. Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. As a group, equities research analysts anticipate that Serve Robotics Inc. will post -2.64 earnings per share for the current fiscal year.
Insider Buying and Selling at Serve Robotics
In other Serve Robotics news, CEO Ali Kashani sold 14,644 shares of Serve Robotics stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $9.26, for a total value of $135,603.44. Following the completion of the sale, the chief executive officer directly owned 3,293,976 shares in the company, valued at $30,502,217.76. The trade was a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Anthony Armenta sold 3,567 shares of Serve Robotics stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $9.82, for a total transaction of $35,027.94. Following the completion of the sale, the insider owned 540,919 shares of the company’s stock, valued at $5,311,824.58. This trade represents a 0.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 81,632 shares of company stock valued at $755,403 over the last three months. 5.00% of the stock is owned by insiders.
Institutional Trading of Serve Robotics
A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Serve Robotics by 25.2% in the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock worth $30,178,000 after buying an additional 521,945 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Serve Robotics by 29.1% in the fourth quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company’s stock worth $15,137,000 after buying an additional 328,405 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Serve Robotics by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,247,559 shares of the company’s stock worth $12,950,000 after buying an additional 138,558 shares during the last quarter. State Street Corp lifted its stake in shares of Serve Robotics by 29.5% in the fourth quarter. State Street Corp now owns 1,245,411 shares of the company’s stock worth $12,927,000 after buying an additional 283,497 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Serve Robotics by 34.5% in the fourth quarter. First Trust Advisors LP now owns 1,022,459 shares of the company’s stock worth $10,613,000 after buying an additional 262,348 shares during the last quarter.
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.
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