Capital Fund Management S.A. Makes New $4.24 Million Investment in Serve Robotics Inc. $SERV

Key Points

• Capital Fund Management S.A. has acquired 738,028 shares of Serve Robotics Inc., valued at approximately $4.24 million, representing about 1.29% ownership of the company.
• Several other institutional investors, including Uber Technologies Inc. with a stake valued at $71.53 million, have also recently increased their investments in Serve Robotics.
• Serve Robotics reported a loss per share of ($0.36) for the quarter, missing expectations, along with a revenue of $0.64 million, compared to consensus estimates.

Capital Fund Management S.A. purchased a new stake in shares of Serve Robotics Inc. (NASDAQ:SERV - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 738,028 shares of the company's stock, valued at approximately $4,244,000. Capital Fund Management S.A. owned about 1.29% of Serve Robotics at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SERV. Uber Technologies Inc purchased a new position in shares of Serve Robotics during the 4th quarter valued at $71,534,000. Captrust Financial Advisors bought a new position in Serve Robotics in the 4th quarter worth about $3,672,000. Exchange Traded Concepts LLC boosted its stake in Serve Robotics by 31.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 882,522 shares of the company's stock worth $5,075,000 after purchasing an additional 210,977 shares during the period. Raymond James Financial Inc. bought a new stake in Serve Robotics during the 4th quarter worth approximately $1,978,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Serve Robotics in the fourth quarter worth $1,354,000.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wedbush began coverage on shares of Serve Robotics in a research note on Wednesday. They issued an "outperform" rating and a $15.00 target price on the stock. Cantor Fitzgerald assumed coverage on Serve Robotics in a research report on Thursday, May 22nd. They set an "overweight" rating on the stock. Finally, Seaport Res Ptn lowered Serve Robotics from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $17.75.

Insider Buying and Selling at Serve Robotics

In other Serve Robotics news, CEO Ali Kashani sold 7,467 shares of Serve Robotics stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $10.74, for a total transaction of $80,195.58. Following the completion of the transaction, the chief executive officer owned 3,598,737 shares in the company, valued at approximately $38,650,435.38. The trade was a 0.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Touraj Parang sold 5,565 shares of Serve Robotics stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $10.64, for a total value of $59,211.60. Following the transaction, the chief operating officer owned 1,419,106 shares of the company's stock, valued at $15,099,287.84. The trade was a 0.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,398 shares of company stock valued at $573,223 in the last ninety days. Corporate insiders own 5.50% of the company's stock.

Serve Robotics Stock Performance

Shares of SERV traded up $1.34 on Wednesday, reaching $11.61. The stock had a trading volume of 30,021,872 shares, compared to its average volume of 4,309,683. The firm has a market capitalization of $695.21 million, a price-to-earnings ratio of -10.10 and a beta of -0.11. The company has a 50-day simple moving average of $10.64 and a 200-day simple moving average of $9.59. Serve Robotics Inc. has a 12-month low of $4.66 and a 12-month high of $24.35.

Serve Robotics (NASDAQ:SERV - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.36) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.13). The firm had revenue of $0.64 million during the quarter, compared to analysts' expectations of $0.63 million. Serve Robotics had a negative net margin of 3,726.00% and a negative return on equity of 36.47%. On average, analysts expect that Serve Robotics Inc. will post -0.98 EPS for the current fiscal year.

Serve Robotics 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.