Brian Read Sells 1,863 Shares of Serve Robotics (NASDAQ:SERV) Stock

by · The Cerbat Gem

Serve Robotics Inc. (NASDAQ:SERV – Get Free Report) CFO Brian Read sold 1,863 shares of the stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $10.37, for a total value of $19,319.31. Following the completion of the transaction, the chief financial officer owned 335,336 shares in the company, valued at $3,477,434.32. The trade was a 0.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

  • On Friday, December 12th, Brian Read sold 6,700 shares of Serve Robotics stock. The shares were sold at an average price of $13.15, for a total transaction of $88,105.00.
  • 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 transaction 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 transaction 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 transaction of $20,199.74.
  • On Thursday, October 30th, Brian Read sold 1,270 shares of Serve Robotics stock. The shares were sold at an average price of $13.32, for a total transaction 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 value of $2,691.04.

Serve Robotics Trading Up 2.8%

Shares of NASDAQ:SERV traded up $0.28 during midday trading on Wednesday, hitting $10.38. The company had a trading volume of 9,297,708 shares, compared to its average volume of 7,990,611. Serve Robotics Inc. has a 12 month low of $4.66 and a 12 month high of $24.35. The firm has a fifty day simple moving average of $11.14 and a 200 day simple moving average of $11.43. The stock has a market cap of $773.10 million, a price-to-earnings ratio of -6.97 and a beta of -0.14.

Serve Robotics (NASDAQ:SERV – Get Free Report) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.17). The firm had revenue of $0.69 million for the quarter, compared to analyst estimates of $0.69 million. Serve Robotics had a negative net margin of 4,121.58% and a negative return on equity of 38.52%. Equities analysts forecast that Serve Robotics Inc. will post -0.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SERV has been the subject of a number of recent analyst reports. LADENBURG THALM/SH SH upgraded shares of Serve Robotics to a “strong-buy” rating in a research note on Thursday, December 18th. Loop Capital set a $16.00 price target on shares of Serve Robotics in a report on Wednesday. Weiss Ratings restated a “sell (d-)” rating on shares of Serve Robotics in a report on Monday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Serve Robotics in a research note on Monday, November 17th. Finally, Oppenheimer began coverage on Serve Robotics in a research note on Thursday, December 18th. They issued an “outperform” rating and a $20.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.80.

View Our Latest Report on Serve Robotics

Institutional Investors Weigh In On Serve Robotics

A number of large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC acquired a new position in shares of Serve Robotics during the third quarter worth $27,000. Allworth Financial LP increased its holdings in Serve Robotics by 316.7% in the 2nd quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock worth $45,000 after purchasing an additional 2,964 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in Serve Robotics by 166.8% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock worth $49,000 after purchasing an additional 2,637 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Serve Robotics in the second quarter valued at about $55,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Serve Robotics during the third quarter valued at about $59,000.

Serve Robotics Company Profile

(Get Free Report)

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.

Further Reading