Serve Robotics Inc. (NASDAQ:SERV – Get Free Report) has been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.5143.
Several analysts recently issued reports on the stock. Freedom Capital lowered shares of Serve Robotics from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 13th. LADENBURG THALM/SH SH boosted their price objective on shares of Serve Robotics from $15.00 to $16.60 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Guggenheim initiated coverage on Serve Robotics in a report on Monday, April 20th. They issued a “buy” rating and a $13.00 target price on the stock. Weiss Ratings upgraded Serve Robotics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Finally, Cantor Fitzgerald lowered their price target on Serve Robotics from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Tuesday, March 17th.
Check Out Our Latest Report on Serve Robotics
Serve Robotics Price Performance
Serve Robotics (NASDAQ:SERV – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.08). The firm had revenue of $2.98 million during the quarter, compared to the consensus estimate of $2.83 million. Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. On average, sell-side analysts expect that Serve Robotics will post -2.67 earnings per share for the current year.
Insider Buying and Selling
In other Serve Robotics news, COO Touraj Parang sold 5,993 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $9.29, for a total transaction of $55,674.97. Following the completion of the transaction, the chief operating officer owned 1,306,351 shares in the company, valued at approximately $12,136,000.79. This trade represents a 0.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ali Kashani sold 15,885 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $7.24, for a total transaction of $115,007.40. Following the completion of the transaction, the chief executive officer owned 3,278,091 shares in the company, valued at $23,733,378.84. This trade represents a 0.48% 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 sold a total of 91,250 shares of company stock valued at $768,253 over the last 90 days. 5.00% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in SERV. Bank of America Corp DE grew its stake in Serve Robotics by 42.3% during the first quarter. Bank of America Corp DE now owns 154,849 shares of the company’s stock worth $1,307,000 after purchasing an additional 46,017 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Serve Robotics by 65.2% in the first quarter. EverSource Wealth Advisors LLC now owns 5,274 shares of the company’s stock valued at $45,000 after buying an additional 2,082 shares during the period. Quantinno Capital Management LP bought a new position in shares of Serve Robotics during the 1st quarter worth approximately $270,000. Themes Management Co LLC boosted its holdings in shares of Serve Robotics by 110.0% during the 1st quarter. Themes Management Co LLC now owns 84,703 shares of the company’s stock worth $715,000 after buying an additional 44,377 shares in the last quarter. Finally, Next Capital Management LLC lifted its position in shares of Serve Robotics by 60.9% during the 1st quarter. Next Capital Management LLC now owns 26,425 shares of the company’s stock valued at $223,000 after acquiring an additional 10,000 shares during the period.
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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