Euan Abraham Sells 25,000 Shares of Serve Robotics (NASDAQ:SERV) Stock

Key Points

• Euan Abraham, an insider at Serve Robotics, sold 25,000 shares of the company's stock at an average price of $17.99, reducing their ownership by 9.07% to a total of 250,539 shares.
• Serve Robotics reported a quarterly earnings per share (EPS) of ($0.36), missing estimates and demonstrating a negative return on equity of 36.47%.
• The company's stock has a current market capitalization of $858.08 million and has seen a trading volume of over 9.8 million shares recently, reflecting significant market activity.

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) insider Euan Abraham sold 25,000 shares of the business's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $17.99, for a total value of $449,750.00. Following the transaction, the insider directly owned 250,539 shares of the company's stock, valued at $4,507,196.61. This trade represents a 9.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Euan Abraham also recently made the following trade(s):

• On Tuesday, October 7th, Euan Abraham sold 1,480 shares of Serve Robotics stock. The shares were sold at an average price of $15.19, for a total value of $22,481.20.
• On Friday, September 19th, Euan Abraham sold 25,000 shares of Serve Robotics stock. The stock was sold at an average price of $14.99, for a total value of $374,750.00.
• On Thursday, September 18th, Euan Abraham sold 8,433 shares of Serve Robotics stock. The shares were sold at an average price of $12.38, for a total transaction of $104,400.54.
• On Monday, September 8th, Euan Abraham sold 12,603 shares of Serve Robotics stock. The shares were sold at an average price of $10.60, for a total transaction of $133,591.80.
• On Tuesday, August 5th, Euan Abraham sold 2,130 shares of Serve Robotics stock. The stock was sold at an average price of $10.64, for a total transaction of $22,663.20.

Serve Robotics Trading Down 7.2%

Serve Robotics stock traded down $1.11 during mid-day trading on Friday, reaching $14.33. The company had a trading volume of 9,853,724 shares, compared to its average volume of 8,338,266. The business has a fifty day simple moving average of $11.98 and a 200 day simple moving average of $10.25. The company has a market cap of $858.08 million, a P/E ratio of -12.46 and a beta of -0.70. Serve Robotics Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $24.35.

Serve Robotics (NASDAQ:SERV - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.13). Serve Robotics had a negative return on equity of 36.47% and a negative net margin of 3,726.00%.The company had revenue of $0.64 million for the quarter, compared to analyst estimates of $0.63 million. Research analysts forecast that Serve Robotics Inc. will post -0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SERV shares. Weiss Ratings restated a "sell (d-)" rating on shares of Serve Robotics in a report on Wednesday, October 8th. Northland Securities set a $26.00 price target on shares of Serve Robotics in a research report on Monday. Wedbush began coverage on shares of Serve Robotics in a research note on Wednesday, August 27th. They issued an "outperform" rating and a $15.00 price objective on the stock. Singular Research upgraded Serve Robotics to a "moderate buy" rating in a research report on Tuesday, August 26th. Finally, Citigroup restated an "outperform" rating on shares of Serve Robotics in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.50.

Hedge Funds Weigh In On Serve Robotics

A number of institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC bought a new stake in shares of Serve Robotics in the 3rd quarter worth approximately $27,000. Allworth Financial LP boosted its holdings in Serve Robotics by 316.7% in the second quarter. Allworth Financial LP now owns 3,900 shares of the company's stock valued at $45,000 after acquiring an additional 2,964 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Serve Robotics during the first quarter valued at $49,000. KLP Kapitalforvaltning AS purchased a new position in Serve Robotics during the first quarter valued at $49,000. Finally, Ameritas Investment Partners Inc. bought a new position in Serve Robotics in the 2nd quarter worth about $55,000.

About Serve Robotics

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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