Serve Robotics (NASDAQ:SERV) Director Sells $67,900.00 in Stock

Key Points

• Serve Robotics Director David Michael Goldberg sold 5,000 shares of stock for a total of $67,900, reducing his ownership by 9.86%.
• The company's most recent earnings report revealed a loss of ($0.36) EPS, missing estimates by ($0.13), with revenue slightly exceeding expectations.
• Several analysts have issued mixed ratings on Serve Robotics, with an average rating of "Buy" and a price target of $17.75.

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) Director David Michael Goldberg sold 5,000 shares of the firm's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $13.58, for a total value of $67,900.00. Following the sale, the director directly owned 45,725 shares in the company, valued at approximately $620,945.50. This trade represents a 9.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Serve Robotics Stock Performance

Serve Robotics stock traded down $0.33 during midday trading on Wednesday, hitting $12.84. 15,646,087 shares of the company were exchanged, compared to its average volume of 7,496,119. The firm has a market capitalization of $768.88 million, a PE ratio of -11.17 and a beta of -0.19. Serve Robotics Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $24.35. The business has a fifty day simple moving average of $10.94 and a two-hundred day simple moving average of $9.45.

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

Wall Street Analyst Weigh In

SERV has been the subject of several research reports. Singular Research upgraded Serve Robotics to a "moderate buy" rating in a research report on Tuesday, August 26th. Wedbush began coverage on Serve Robotics in a report on Wednesday, August 27th. They issued an "outperform" rating and a $15.00 price target for the company. Finally, Seaport Res Ptn cut Serve Robotics from a "strong-buy" rating to a "hold" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $17.75.

Institutional Investors Weigh In On Serve Robotics

Several hedge funds have recently made changes to their positions in the business. Northern Trust Corp lifted its position in shares of Serve Robotics by 178.0% during the 4th quarter. Northern Trust Corp now owns 31,633 shares of the company's stock valued at $427,000 after acquiring an additional 20,253 shares during the period. Man Group plc purchased a new stake in shares of Serve Robotics during the 4th quarter valued at $467,000. Tidal Investments LLC raised its stake in shares of Serve Robotics by 57.6% during the fourth quarter. Tidal Investments LLC now owns 51,846 shares of the company's stock valued at $700,000 after purchasing an additional 18,948 shares during the period. Two Sigma Investments LP acquired a new stake in Serve Robotics during the 4th quarter valued at approximately $815,000. Finally, Jefferies Financial Group Inc. grew its position in shares of Serve Robotics by 30.3% during the fourth quarter. Jefferies Financial Group Inc. now owns 17,200 shares of the company's stock worth $232,000 after buying an additional 4,000 shares in the last quarter.

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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