Brian Read Sells 6,700 Shares of Serve Robotics (NASDAQ:SERV) Stock

by · The Markets Daily

Serve Robotics Inc. (NASDAQ:SERV – Get Free Report) CFO Brian Read sold 6,700 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $13.15, for a total value of $88,105.00. Following the completion of the sale, the chief financial officer owned 337,199 shares of the company’s stock, valued at $4,434,166.85. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Brian Read also recently made the following trade(s):

  • On Thursday, December 11th, Brian Read sold 371 shares of Serve Robotics stock. The stock was sold at an average price of $11.87, for a total value of $4,403.77.
  • On Thursday, December 4th, Brian Read sold 7,500 shares of Serve Robotics stock. The shares were sold at an average price of $13.05, for a total value of $97,875.00.
  • On Tuesday, December 2nd, Brian Read sold 2,057 shares of Serve Robotics stock. The stock was sold at an average price of $9.82, for a total value of $20,199.74.
  • On Thursday, October 30th, Brian Read sold 1,270 shares of Serve Robotics stock. The stock was sold at an average price of $13.32, for a total value of $16,916.40.
  • On Tuesday, October 7th, Brian Read sold 176 shares of Serve Robotics stock. The shares were sold at an average price of $15.29, for a total transaction of $2,691.04.
  • On Tuesday, September 30th, Brian Read sold 1,225 shares of Serve Robotics stock. The stock was sold at an average price of $11.70, for a total transaction of $14,332.50.
  • On Thursday, September 18th, Brian Read sold 3,941 shares of Serve Robotics stock. The shares were sold at an average price of $12.70, for a total transaction of $50,050.70.

Serve Robotics Price Performance

NASDAQ SERV traded down $1.16 during mid-day trading on Monday, reaching $10.97. 5,606,831 shares of the stock were exchanged, compared to its average volume of 8,099,161. Serve Robotics Inc. has a one year low of $4.66 and a one year high of $24.35. The stock has a 50 day simple moving average of $12.33 and a 200-day simple moving average of $11.56. The stock has a market cap of $817.08 million, a P/E ratio of -7.36 and a beta of -0.14.

Serve Robotics (NASDAQ:SERV – Get Free Report) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $0.69 million for the quarter, compared to the consensus estimate of $0.69 million. Sell-side analysts anticipate that Serve Robotics Inc. will post -0.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on SERV. Singular Research raised Serve Robotics to a “moderate buy” rating in a research note on Tuesday, August 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Serve Robotics in a research report on Monday, November 17th. Northland Securities set a $26.00 price objective on shares of Serve Robotics in a research note on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday, December 8th. Finally, Wedbush initiated coverage on shares of Serve Robotics in a research note on Wednesday, August 27th. They issued an “outperform” rating and a $15.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.33.

Check Out Our Latest Analysis on SERV

Hedge Funds Weigh In On Serve Robotics

A number of large investors have recently modified their holdings of the company. Capital Fund Management S.A. acquired a new position in Serve Robotics during the first quarter worth $4,244,000. 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 in the last quarter. Bulltick Wealth Management LLC bought a new stake in shares of Serve Robotics during the second quarter worth about $355,000. Vontobel Holding Ltd. acquired a new stake in shares of Serve Robotics in the 2nd quarter worth about $240,000. Finally, Exchange Traded Concepts LLC lifted its position in Serve Robotics by 12.9% in the 2nd quarter. Exchange Traded Concepts LLC now owns 996,283 shares of the company’s stock valued at $11,397,000 after acquiring an additional 113,761 shares in the last quarter.

Serve Robotics Company Profile

(Get Free Report)

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.

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