One Wealth Management Investment & Advisory Services LLC Takes Position in Serve Robotics Inc. (NASDAQ:SERV)

One Wealth Management Investment & Advisory Services LLC acquired a new stake in Serve Robotics Inc. (NASDAQ:SERV) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 11,380 shares of the company’s stock, valued at approximately $154,000.

A number of other large investors have also bought and sold shares of the business. Bfsg LLC bought a new position in Serve Robotics in the third quarter valued at $38,000. Harbour Capital Advisors LLC acquired a new position in shares of Serve Robotics during the 3rd quarter worth about $198,000. Yong Rong HK Asset Management Ltd bought a new position in shares of Serve Robotics in the 3rd quarter valued at about $9,636,000. Quantum Private Wealth LLC acquired a new stake in shares of Serve Robotics in the third quarter valued at about $80,000. Finally, GSA Capital Partners LLP bought a new stake in Serve Robotics during the third quarter worth about $152,000.

Serve Robotics Price Performance

SERV stock opened at $17.82 on Friday. Serve Robotics Inc. has a 1-year low of $1.77 and a 1-year high of $24.35. The business’s 50 day simple moving average is $13.70 and its 200 day simple moving average is $10.75.

Serve Robotics (NASDAQ:SERV) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). The firm had revenue of $0.22 million for the quarter, compared to the consensus estimate of $0.36 million. Serve Robotics had a negative net margin of 1,972.12% and a negative return on equity of 184.60%. As a group, analysts anticipate that Serve Robotics Inc. will post -0.98 earnings per share for the current fiscal year.

Insider Activity

In other news, Director James Buckly Jordan sold 64,408 shares of Serve Robotics stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $8.57, for a total transaction of $551,976.56. Following the completion of the sale, the director now owns 449,052 shares of the company’s stock, valued at approximately $3,848,375.64. This trade represents a 12.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ali Kashani sold 37,500 shares of the company’s stock in a transaction dated 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 $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. Over the last quarter, insiders have sold 253,027 shares of company stock valued at $3,309,166. 21.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SERV shares. Northland Capmk raised Serve Robotics to a “strong-buy” rating in a research report on Friday, October 18th. LADENBURG THALM/SH SH assumed coverage on shares of Serve Robotics in a research note on Monday, October 28th. They issued a “buy” rating and a $16.00 target price for the company. Seaport Res Ptn raised shares of Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Finally, Northland Securities lifted their price objective 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. Two equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and a consensus price target of $19.50.

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.