Serve Robotics (NASDAQ:SERV) Insider Sells $22,481.20 in Stock

Key Points

• Serve Robotics insider Euan Abraham sold 1,480 shares at an average price of $15.19, totaling $22,481.20, reducing his ownership by 0.59%.
• The company's stock, recently trading at $14.23, has a market cap of $852.09 million and a PE ratio of -12.37.
• Serve Robotics reported a quarterly earnings loss of ($0.36) EPS, falling short of the expected ($0.23), amidst a significant negative net margin of 3,726.00%.

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) insider Euan Abraham sold 1,480 shares of the stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $15.19, for a total value of $22,481.20. Following the sale, the insider owned 250,539 shares of the company's stock, valued at approximately $3,805,687.41. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Euan Abraham also recently made the following trade(s):

• On Friday, September 19th, Euan Abraham sold 25,000 shares of Serve Robotics stock. The shares were sold at an average price of $14.99, for a total transaction of $374,750.00.
• On Thursday, September 18th, Euan Abraham sold 8,433 shares of Serve Robotics stock. The stock was sold at an average price of $12.38, for a total value of $104,400.54.
• On Monday, September 8th, Euan Abraham sold 12,603 shares of Serve Robotics stock. The shares were sold at an average price of $10.60, for a total value of $133,591.80.
• On Tuesday, August 5th, Euan Abraham sold 2,130 shares of Serve Robotics stock. The shares were sold at an average price of $10.64, for a total transaction of $22,663.20.

Serve Robotics Stock Performance

SERV traded down $0.70 during midday trading on Tuesday, reaching $14.23. The company had a trading volume of 14,570,622 shares, compared to its average volume of 7,598,433. The business has a 50-day moving average price of $11.11 and a two-hundred day moving average price of $9.79. Serve Robotics Inc. has a 12-month low of $4.66 and a 12-month high of $24.35. The stock has a market cap of $852.09 million, a PE ratio of -12.37 and a beta of -0.70.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Serve Robotics in a report on Saturday, September 27th. Wedbush initiated coverage on shares of Serve Robotics in a research note on Wednesday, August 27th. They set an "outperform" rating and a $15.00 target price for the company. Singular Research upgraded Serve Robotics to a "moderate buy" rating in a research note on Tuesday, August 26th. Finally, Seaport Res Ptn downgraded Serve Robotics from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $17.75.

Hedge Funds Weigh In On Serve Robotics

A number of hedge funds have recently added to or reduced their stakes in SERV. Capital Fund Management S.A. purchased a new stake in Serve Robotics during the first quarter worth $4,244,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Serve Robotics by 616.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 679,014 shares of the company's stock worth $3,972,000 after buying an additional 584,302 shares during the period. Geode Capital Management LLC grew its position in shares of Serve Robotics by 176.0% in the second quarter. Geode Capital Management LLC now owns 878,668 shares of the company's stock valued at $10,054,000 after purchasing an additional 560,361 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Serve Robotics during the 1st quarter worth approximately $2,064,000. Finally, Bank of America Corp DE lifted its holdings in Serve Robotics by 157.9% in the 2nd quarter. Bank of America Corp DE now owns 401,557 shares of the company's stock valued at $4,594,000 after purchasing an additional 245,858 shares in the last quarter.

Serve Robotics Company 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.

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