Freedom Capital cut shares of Serve Robotics (NASDAQ:SERV – Free Report) from a strong-buy rating to a hold rating in a research note published on Wednesday,Zacks.com reports.
Several other brokerages also recently issued reports on SERV. LADENBURG THALM/SH SH raised their price objective on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a “buy” rating in a research note on Wednesday. Guggenheim assumed coverage on shares of Serve Robotics in a research note on Monday, April 20th. They issued a “buy” rating and a $13.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a research note on Friday, March 27th. Finally, Cantor Fitzgerald lowered their price objective on shares of Serve Robotics from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.51.
View Our Latest Stock Report on Serve Robotics
Serve Robotics Trading Down 1.5%
Serve Robotics (NASDAQ:SERV – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.08). The company had revenue of $2.98 million during the quarter, compared to analyst estimates of $2.83 million. Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%. As a group, research analysts forecast that Serve Robotics will post -2.38 earnings per share for the current fiscal year.
Insider Buying and Selling at Serve Robotics
In other Serve Robotics news, insider Anthony Armenta sold 3,567 shares of Serve Robotics stock in a transaction 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 sale, the insider owned 540,919 shares in the company, valued at $5,311,824.58. The trade was a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Touraj Parang sold 3,888 shares of Serve Robotics stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $9.26, for a total transaction of $36,002.88. Following the sale, the chief operating officer owned 1,302,463 shares in the company, valued at $12,060,807.38. This represents a 0.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 86,870 shares of company stock worth $804,859 over the last three months. 5.00% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Serve Robotics
A number of institutional investors have recently bought and sold shares of SERV. First Trust Advisors LP acquired a new stake in Serve Robotics during the third quarter worth $8,840,000. Vanguard Group Inc. lifted its holdings in shares of Serve Robotics by 25.2% during the third quarter. Vanguard Group Inc. now owns 2,594,869 shares of the company’s stock valued at $30,178,000 after acquiring an additional 521,945 shares during the period. Creek Drive Management Group LLC bought a new position in shares of Serve Robotics during the fourth quarter valued at $4,912,000. Geode Capital Management LLC lifted its holdings in shares of Serve Robotics by 29.1% during the fourth quarter. Geode Capital Management LLC now owns 1,457,965 shares of the company’s stock valued at $15,137,000 after acquiring an additional 328,405 shares during the period. Finally, Grange Capital LLC bought a new position in shares of Serve Robotics during the first quarter valued at $2,426,000.
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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