Serve Robotics (NASDAQ:SERV) Stock Rating Upgraded by Freedom Capital

Serve Robotics (NASDAQ:SERV) was upgraded by investment analysts at Freedom Capital to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other research firms have also recently issued reports on SERV. Oppenheimer initiated coverage on Serve Robotics in a research report on Thursday, December 18th. They issued an “outperform” rating and a $20.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Serve Robotics in a research note on Monday, November 17th. Loop Capital set a $16.00 price objective on shares of Serve Robotics in a research report on Wednesday. Citigroup reissued an “outperform” rating on shares of Serve Robotics in a report on Monday, October 13th. Finally, Northland Securities set a $26.00 target price on Serve Robotics in a research report on Monday, October 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.80.

Serve Robotics Trading Up 2.8%

NASDAQ SERV opened at $10.38 on Wednesday. The firm’s 50 day simple moving average is $11.02 and its 200 day simple moving average is $11.41. The firm has a market capitalization of $773.10 million, a price-to-earnings ratio of -6.97 and a beta of 0.30. Serve Robotics has a 1 year low of $4.66 and a 1 year high of $24.35.

Serve Robotics (NASDAQ:SERV) last released its earnings results on Wednesday, November 12th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $0.69 million. On average, equities research analysts forecast that Serve Robotics will post -0.98 earnings per share for the current year.

Insider Transactions at Serve Robotics

In related news, CEO Ali Kashani sold 16,730 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $11.87, for a total transaction of $198,585.10. Following the transaction, the chief executive officer directly owned 3,374,862 shares of the company’s stock, valued at approximately $40,059,611.94. This trade represents a 0.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Anthony Armenta sold 49,082 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $9.32, for a total transaction of $457,444.24. Following the sale, the insider owned 560,037 shares of the company’s stock, valued at approximately $5,219,544.84. The trade was a 8.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 226,533 shares of company stock valued at $2,832,641. 5.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in Serve Robotics by 28.5% in the third quarter. JPMorgan Chase & Co. now owns 38,422 shares of the company’s stock worth $447,000 after buying an additional 8,517 shares during the period. Cambria Investment Management L.P. lifted its stake in shares of Serve Robotics by 25.0% in the 3rd quarter. Cambria Investment Management L.P. now owns 74,391 shares of the company’s stock valued at $865,000 after purchasing an additional 14,877 shares during the period. Captrust Financial Advisors boosted its position in shares of Serve Robotics by 23.0% during the third quarter. Captrust Financial Advisors now owns 589,441 shares of the company’s stock valued at $6,855,000 after purchasing an additional 110,094 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Serve Robotics by 258.5% in the third quarter. Caitong International Asset Management Co. Ltd now owns 8,432 shares of the company’s stock worth $98,000 after purchasing an additional 6,080 shares in the last quarter. Finally, Advisory Services Network LLC raised its holdings in Serve Robotics by 6.4% in the third quarter. Advisory Services Network LLC now owns 46,448 shares of the company’s stock worth $540,000 after purchasing an additional 2,797 shares in the last quarter.

Serve Robotics Company Profile

Serve Robotics develops and operates autonomous sidewalk delivery robots designed to transform last-mile logistics for restaurants, retailers and grocery brands. By combining proprietary hardware, sensor suites and dispatch software, the company enables on-demand deliveries of food, beverages and consumer goods while minimizing reliance on traditional vehicle fleets.

The core Serve robot integrates four-wheeled mobility, LiDAR and vision cameras with AI-driven navigation algorithms to detect obstacles, traverse urban sidewalks and interact safely with pedestrians.