Jupiter Asset Management Ltd. Invests $1.43 Million in Serve Robotics Inc. $SERV

Key Points

• Jupiter Asset Management disclosed a new fourth-quarter position in Serve Robotics, buying 137,477 shares worth about $1.43 million, or roughly 0.18% of the company.
• Several other hedge funds also increased or initiated stakes in SERV, while analyst sentiment remains mostly positive with a Moderate Buy consensus and an average price target of $17.51.
• Serve Robotics reported a Q1 earnings miss with EPS of -$0.65 versus expectations of -$0.57, though revenue of $2.98 million topped estimates; insiders also sold shares recently for tax withholding related to equity vesting.

Jupiter Asset Management Ltd. purchased a new position in Serve Robotics Inc. (NASDAQ:SERV - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 137,477 shares of the company's stock, valued at approximately $1,427,000. Jupiter Asset Management Ltd. owned about 0.18% of Serve Robotics at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Serve Robotics by 299.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,192 shares of the company's stock worth $33,000 after purchasing an additional 2,392 shares during the last quarter. CWM LLC grew its holdings in shares of Serve Robotics by 514.1% in the fourth quarter. CWM LLC now owns 3,439 shares of the company's stock worth $36,000 after purchasing an additional 2,879 shares during the last quarter. Harbour Investments Inc. grew its holdings 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 worth $39,000 after purchasing an additional 2,240 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Serve Robotics by 166.8% in the third 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 during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of Serve Robotics in the third quarter worth about $59,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SERV shares. Guggenheim started coverage on shares of Serve Robotics in a report on Monday, April 20th. They issued a "buy" rating and a $13.00 price target on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Serve Robotics in a report on Friday, March 27th. LADENBURG THALM/SH SH upped their price objective 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. Cantor Fitzgerald lowered their price objective on shares of Serve Robotics from $17.00 to $16.00 and set an "overweight" rating for the company in a research note on Tuesday, March 17th. Finally, Freedom Capital lowered shares of Serve Robotics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 13th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.51.

Insider Buying and Selling at Serve Robotics

In other Serve Robotics news, COO Touraj Parang sold 3,888 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $9.26, for a total transaction of $36,002.88. Following the completion of the sale, the chief operating officer directly owned 1,302,463 shares of the company's stock, valued at approximately $12,060,807.38. This represents a 0.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Read sold 2,790 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $9.29, for a total transaction of $25,919.10. Following the sale, the chief financial officer directly owned 318,768 shares of the company's stock, valued at approximately $2,961,354.72. The trade was a 0.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 83,438 shares of company stock valued at $772,667 in the last ninety days. 5.00% of the stock is owned by insiders.

Serve Robotics Price Performance

NASDAQ:SERV opened at $9.35 on Friday. Serve Robotics Inc. has a 1-year low of $7.66 and a 1-year high of $18.64. The company has a 50-day moving average of $8.90 and a 200 day moving average of $10.22. The firm has a market cap of $723.41 million, a PE ratio of -4.65 and a beta of 0.96.

Serve Robotics (NASDAQ:SERV - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.08). Serve Robotics had a negative return on equity of 47.31% and a negative net margin of 2,639.98%.The business had revenue of $2.98 million during the quarter, compared to analysts' expectations of $2.83 million. Sell-side analysts anticipate that Serve Robotics Inc. will post -2.64 EPS for the current fiscal year.

Serve Robotics 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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