Serve Robotics (NASDAQ:SERV) Stock Price Down 4% – Time to Sell?

Serve Robotics Inc. (NASDAQ:SERV) shares fell 4% during mid-day trading on Monday . The company traded as low as $15.13 and last traded at $15.93. 3,354,147 shares were traded during trading, a decline of 72% from the average session volume of 12,108,047 shares. The stock had previously closed at $16.59.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SERV. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. LADENBURG THALM/SH SH initiated coverage on Serve Robotics in a research note on Monday, October 28th. They set a “buy” rating and a $16.00 target price on the stock. Northland Capmk upgraded Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Finally, Northland Securities lifted their target price on Serve Robotics from $16.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Strong Buy” and an average price target of $19.50.

Serve Robotics Trading Down 4.9 %

The stock has a fifty day simple moving average of $14.74 and a two-hundred day simple moving average of $11.50.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Thursday, November 7th. The company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). Serve Robotics had a negative return on equity of 184.60% and a negative net margin of 1,972.12%. The business had revenue of $0.22 million during the quarter, compared to analyst estimates of $0.36 million. As a group, equities research analysts expect that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Transactions at Serve Robotics

In related news, Director James Buckly Jordan sold 64,408 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $8.57, for a total transaction of $551,976.56. Following the completion of the transaction, the director now owns 449,052 shares in the company, valued at $3,848,375.64. This represents a 12.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ali Kashani sold 9,719 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.77, for a total value of $85,235.63. Following the transaction, the chief executive officer now owns 3,355,238 shares of the company’s stock, valued at approximately $29,425,437.26. This represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 253,027 shares of company stock valued at $3,309,166. 21.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Serve Robotics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. bought a new position in shares of Serve Robotics during the fourth quarter valued at approximately $27,000. Bogart Wealth LLC bought a new position in Serve Robotics in the fourth quarter worth $37,000. Stephens Inc. AR bought a new position in Serve Robotics in the fourth quarter worth $142,000. Choreo LLC bought a new position in Serve Robotics in the fourth quarter worth $202,000. Finally, Exchange Traded Concepts LLC bought a new position in Serve Robotics in the fourth quarter worth $9,066,000.

Serve Robotics Company Profile

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.