Serve Robotics Inc. (NASDAQ:SERV – Get Free Report) has earned an average recommendation of “Strong Buy” from the five research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $19.50.
Several analysts have recently commented on the stock. Northland Securities lifted their price target on shares of Serve Robotics from $16.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, January 15th. Seaport Res Ptn upgraded shares of Serve Robotics to a “strong-buy” rating in a report on Monday, October 7th. LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a report on Monday, October 28th. They issued a “buy” rating and a $16.00 target price for the company. Finally, Northland Capmk upgraded Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th.
View Our Latest Research Report on SERV
Serve Robotics Trading Down 8.0 %
Serve Robotics (NASDAQ:SERV – Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.20) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.20). Serve Robotics had a negative net margin of 1,972.12% and a negative return on equity of 184.60%. The firm had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.36 million. Research analysts expect that Serve Robotics will post -0.98 earnings per share for the current year.
Insider Buying and Selling
In other Serve Robotics news, COO Touraj Parang sold 50,000 shares of Serve Robotics stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $12.99, for a total value of $649,500.00. Following the transaction, the chief operating officer now directly owns 1,163,439 shares in the company, valued at approximately $15,113,072.61. This trade represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ali Kashani sold 37,500 shares of Serve Robotics stock in a transaction on Monday, January 6th. The shares were sold at an average price of $21.16, for a total transaction of $793,500.00. Following the completion of the transaction, the chief executive officer now owns 3,230,990 shares in the company, valued at approximately $68,367,748.40. This trade represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 253,027 shares of company stock worth $3,309,166 over the last 90 days. 21.40% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the business. Bfsg LLC purchased a new stake in Serve Robotics during the third quarter worth about $38,000. Harbour Capital Advisors LLC purchased a new stake in shares of Serve Robotics during the 3rd quarter worth approximately $198,000. Yong Rong HK Asset Management Ltd acquired a new stake in shares of Serve Robotics in the 3rd quarter worth approximately $9,636,000. Quantum Private Wealth LLC acquired a new stake in Serve Robotics in the third quarter valued at $80,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Serve Robotics during the 3rd quarter worth $152,000.
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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