Grange Capital LLC Purchases New Position in Serve Robotics Inc. $SERV

Key Points

• Grange Capital LLC opened a new position in Serve Robotics during the first quarter, buying 287,427 shares worth about $2.43 million. The stake represents roughly 2.4% of Grange Capital’s portfolio and about 0.38% of Serve Robotics.
• Serve Robotics shares were down 2.6% and recently traded at $6.28, near the low end of their 52-week range. The company has a market cap of about $486 million and remains unprofitable, with a negative P/E ratio.
• Recent earnings showed Serve Robotics missed EPS expectations despite slightly beating revenue estimates, and analysts remain mostly positive with a Moderate Buy consensus and an average price target of $17.51. Insider selling has also been notable, including sales by a director and the CFO.

Grange Capital LLC acquired a new position in shares of Serve Robotics Inc. (NASDAQ:SERV - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 287,427 shares of the company's stock, valued at approximately $2,426,000. Serve Robotics comprises about 2.4% of Grange Capital LLC's portfolio, making the stock its 16th biggest position. Grange Capital LLC owned about 0.38% of Serve Robotics as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SERV. Gordian Capital Singapore Pte Ltd bought a new stake in Serve Robotics in the fourth quarter worth $31,000. Quadrant Capital Group LLC bought a new position in Serve Robotics during the fourth quarter valued at $31,000. EverSource Wealth Advisors LLC increased its position in Serve Robotics by 299.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company's stock valued at $33,000 after acquiring an additional 2,392 shares during the last quarter. CWM LLC raised its stake in shares of Serve Robotics by 514.1% in the fourth quarter. CWM LLC now owns 3,439 shares of the company's stock valued at $36,000 after acquiring an additional 2,879 shares during the period. Finally, Harbour Investments Inc. raised its stake in shares of Serve Robotics by 149.3% in the fourth quarter. Harbour Investments Inc. now owns 3,740 shares of the company's stock valued at $39,000 after acquiring an additional 2,240 shares during the period.

Serve Robotics Trading Down 2.6%

Shares of SERV stock opened at $6.28 on Tuesday. Serve Robotics Inc. has a twelve month low of $5.78 and a twelve month high of $18.64. The stock has a fifty day simple moving average of $7.95 and a two-hundred day simple moving average of $9.56. The stock has a market capitalization of $486.04 million, a price-to-earnings ratio of -3.15 and a beta of 1.04.

Serve Robotics (NASDAQ:SERV - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.08). Serve Robotics had a negative net margin of 2,639.98% and a negative return on equity of 47.31%. The firm had revenue of $2.98 million for the quarter, compared to analysts' expectations of $2.83 million. Research analysts predict that Serve Robotics Inc. will post -2.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on SERV. LADENBURG THALM/SH SH lifted their price target on shares of Serve Robotics from $15.00 to $16.60 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. Weiss Ratings raised shares of Serve Robotics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 17th. Guggenheim began coverage on Serve Robotics in a research report on Monday, April 20th. They set a "buy" rating and a $13.00 target price for the company. Freedom Capital cut Serve Robotics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 13th. Finally, Cantor Fitzgerald decreased their price target on Serve Robotics from $17.00 to $16.00 and set an "overweight" rating for the company in a research note on Tuesday, March 17th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $17.51.

Insider Buying and Selling at Serve Robotics

In other news, Director David Michael Goldberg sold 10,600 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $7.20, for a total value of $76,320.00. Following the completion of the sale, the director owned 35,125 shares of the company's stock, valued at approximately $252,900. This represents a 23.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brian Read sold 2,790 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $9.29, for a total transaction of $25,919.10. Following the transaction, the chief financial officer owned 318,768 shares in the company, valued at approximately $2,961,354.72. This represents a 0.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 91,250 shares of company stock valued at $768,253 in the last 90 days. Insiders own 5.00% of the company's stock.

Serve Robotics Company Profile

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.

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