Brian Read Sells 1,295 Shares of Serve Robotics Inc. (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) CFO Brian Read sold 1,295 shares of Serve Robotics stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $11.56, for a total value of $14,970.20. Following the completion of the sale, the chief financial officer now directly owns 219,705 shares in the company, valued at approximately $2,539,789.80. This represents a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Brian Read also recently made the following trade(s):

• On Tuesday, May 27th, Brian Read sold 3,000 shares of Serve Robotics stock. The stock was sold at an average price of $12.15, for a total value of $36,450.00.
• On Thursday, May 22nd, Brian Read sold 1,000 shares of Serve Robotics stock. The stock was sold at an average price of $11.52, for a total value of $11,520.00.
• On Tuesday, May 13th, Brian Read sold 8,900 shares of Serve Robotics stock. The stock was sold at an average price of $8.95, for a total transaction of $79,655.00.
• On Friday, May 9th, Brian Read sold 7,000 shares of Serve Robotics stock. The shares were sold at an average price of $8.03, for a total transaction of $56,210.00.
• On Friday, May 2nd, Brian Read sold 29,100 shares of Serve Robotics stock. The stock was sold at an average price of $7.06, for a total value of $205,446.00.

Serve Robotics Stock Performance

SERV traded down $0.60 during trading hours on Thursday, reaching $11.46. The company's stock had a trading volume of 5,584,525 shares, compared to its average volume of 9,995,032. Serve Robotics Inc. has a 52 week low of $1.82 and a 52 week high of $24.35. The company's 50-day moving average is $7.80 and its 200-day moving average is $11.08. The firm has a market cap of $653.30 million and a PE ratio of -10.81.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SERV shares. Cantor Fitzgerald started coverage on Serve Robotics in a research report on Thursday, May 22nd. They set an "overweight" rating on the stock. Northland Securities set a $23.00 price target on Serve Robotics in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Strong Buy" and a consensus target price of $18.67.

Institutional Investors Weigh In On Serve Robotics

A number of large investors have recently added to or reduced their stakes in SERV. SG Americas Securities LLC bought a new stake in Serve Robotics in the 4th quarter valued at $114,000. Blue Trust Inc. bought a new position in Serve Robotics during the 4th quarter worth $27,000. Choreo LLC bought a new position in Serve Robotics during the 4th quarter worth $202,000. Stephens Inc. AR bought a new position in Serve Robotics during the 4th quarter worth $142,000. Finally, Bogart Wealth LLC bought a new position in Serve Robotics during the 4th quarter worth $37,000.

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.