Ali Kashani Sells 16,730 Shares of Serve Robotics (NASDAQ:SERV) Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 16,730 shares of Serve Robotics stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $11.87, for a total transaction of $198,585.10. Following the transaction, the chief executive officer owned 3,374,862 shares in the company, valued at approximately $40,059,611.94. This trade represents a 0.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Ali Kashani also recently made the following trade(s):

• On Thursday, November 6th, Ali Kashani sold 16,170 shares of Serve Robotics stock. The stock was sold at an average price of $10.78, for a total value of $174,312.60.
• On Wednesday, November 5th, Ali Kashani sold 13,310 shares of Serve Robotics stock. The shares were sold at an average price of $11.63, for a total value of $154,795.30.
• On Tuesday, October 7th, Ali Kashani sold 12,930 shares of Serve Robotics stock. The stock was sold at an average price of $15.08, for a total value of $194,984.40.

Serve Robotics Trading Down 3.6%

NASDAQ:SERV opened at $10.57 on Wednesday. The stock has a 50-day moving average price of $12.18 and a 200 day moving average price of $11.55. The stock has a market capitalization of $787.25 million, a P/E ratio of -7.09 and a beta of -0.14. Serve Robotics Inc. has a 12-month low of $4.66 and a 12-month high of $24.35.

Serve Robotics (NASDAQ:SERV) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.17). Serve Robotics had a negative return on equity of 38.52% and a negative net margin of 4,121.58%.The business had revenue of $0.69 million during the quarter, compared to analysts’ expectations of $0.69 million. On average, research analysts predict that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Singular Research raised shares of Serve Robotics to a “moderate buy” rating in a research note on Tuesday, August 26th. Wedbush began coverage on Serve Robotics in a research report on Wednesday, August 27th. They set an “outperform” rating and a $15.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Serve Robotics in a report on Monday, November 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Serve Robotics in a research note on Monday. Finally, Citigroup restated an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.33.

Hedge Funds Weigh In On Serve Robotics

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new stake in shares of Serve Robotics in the third quarter valued at approximately $27,000. Allworth Financial LP raised its position in Serve Robotics by 316.7% during the 2nd quarter. Allworth Financial LP now owns 3,900 shares of the company’s stock valued at $45,000 after purchasing an additional 2,964 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in shares of Serve Robotics by 166.8% in the 3rd quarter. SBI Securities Co. Ltd. now owns 4,218 shares of the company’s stock worth $49,000 after buying an additional 2,637 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of Serve Robotics in the 2nd quarter worth $55,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Serve Robotics during the 3rd quarter worth $59,000.

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.