Serve Robotics (NASDAQ:SERV) Shares Up 3.7% – Time to Buy?
by Jessica Moore · The Cerbat GemServe Robotics Inc. (NASDAQ:SERV – Get Free Report)’s share price shot up 3.7% on Tuesday . The company traded as high as $10.54 and last traded at $10.1740. 2,200,695 shares traded hands during trading, a decline of 72% from the average session volume of 7,967,788 shares. The stock had previously closed at $9.81.
Analysts Set New Price Targets
A number of equities research analysts recently commented on SERV shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Serve Robotics in a research report on Monday, December 22nd. LADENBURG THALM/SH SH raised Serve Robotics to a “strong-buy” rating in a research note on Thursday, December 18th. Northland Securities set a $26.00 price objective on Serve Robotics in a report on Monday, October 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Finally, Oppenheimer started coverage on shares of Serve Robotics in a report on Thursday, December 18th. They issued an “outperform” rating and a $20.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.
View Our Latest Research Report on Serve Robotics
Serve Robotics Price Performance
The firm has a market capitalization of $769.01 million, a PE ratio of -6.91 and a beta of -0.10. The business has a 50-day simple moving average of $11.22 and a 200-day simple moving average of $11.43.
Serve Robotics (NASDAQ:SERV – Get Free Report) last released its earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.17). Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. The company had revenue of $0.69 million for the quarter, compared to the consensus estimate of $0.69 million. On average, research analysts expect that Serve Robotics Inc. will post -0.98 earnings per share for the current year.
Insider Buying and Selling at Serve Robotics
In other news, insider Euan Abraham sold 25,000 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $17.99, for a total value of $449,750.00. Following the sale, the insider owned 250,539 shares of the company’s stock, valued at approximately $4,507,196.61. This represents a 9.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Anthony Armenta sold 49,082 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $9.32, for a total transaction of $457,444.24. Following the completion of the sale, the insider owned 560,037 shares of the company’s stock, valued at $5,219,544.84. This trade represents a 8.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 224,670 shares of company stock valued at $2,813,321. Insiders own 21.40% of the company’s stock.
Institutional Trading of Serve Robotics
Several institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Serve Robotics by 616.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company’s stock worth $3,972,000 after acquiring an additional 584,302 shares during the period. Bulltick Wealth Management LLC bought a new position in Serve Robotics in the second quarter worth approximately $355,000. Vontobel Holding Ltd. bought a new position in Serve Robotics in the second quarter worth approximately $240,000. Exchange Traded Concepts LLC increased its holdings in Serve Robotics by 12.9% during the 2nd quarter. Exchange Traded Concepts LLC now owns 996,283 shares of the company’s stock worth $11,397,000 after purchasing an additional 113,761 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Serve Robotics during the 1st quarter worth $2,064,000.
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.