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 fourth quarter, HoldingsChannel reports. The firm acquired 11,380 shares of the company’s stock, valued at approximately $154,000.

Several other hedge funds have also added to or reduced their stakes in the business. Yong Rong HK Asset Management Ltd acquired a new stake in Serve Robotics in the third quarter valued at $9,636,000. Geode Capital Management LLC raised its position in shares of Serve Robotics by 128.1% during the third quarter. Geode Capital Management LLC now owns 130,853 shares of the company’s stock worth $1,041,000 after acquiring an additional 73,496 shares during the last quarter. Harbour Capital Advisors LLC lifted its stake in shares of Serve Robotics by 102.4% in the fourth quarter. Harbour Capital Advisors LLC now owns 50,365 shares of the company’s stock worth $680,000 after acquiring an additional 25,475 shares during the period. State Street Corp bought a new stake in Serve Robotics in the third quarter valued at approximately $333,000. Finally, Tidal Investments LLC acquired a new stake in Serve Robotics during the 3rd quarter valued at approximately $262,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SERV shares. Northland Capmk raised shares of Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. LADENBURG THALM/SH SH assumed coverage on Serve Robotics in a research report on Monday, October 28th. They issued a “buy” rating and a $16.00 price objective for the company. Seaport Res Ptn upgraded Serve Robotics to a “strong-buy” rating in a research report on Monday, October 7th. Finally, Northland Securities boosted their price target on Serve Robotics from $16.00 to $23.00 and gave the company an “outperform” rating in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Serve Robotics has an average rating of “Strong Buy” and an average price target of $19.50.

Serve Robotics Price Performance

Shares of SERV opened at $17.82 on Friday. Serve Robotics Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $24.35. The business has a 50-day moving average of $13.70 and a 200 day moving average of $10.75.

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

Insider Buying and Selling at Serve Robotics

In related news, COO Touraj Parang sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $12.99, for a total transaction of $649,500.00. Following the sale, the chief operating officer now owns 1,163,439 shares of the company’s stock, valued at approximately $15,113,072.61. This represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ali Kashani sold 9,719 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $8.77, for a total transaction of $85,235.63. Following the transaction, the chief executive officer now owns 3,355,238 shares of the company’s stock, valued at $29,425,437.26. This trade represents a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 253,027 shares of company stock valued at $3,309,166 in the last 90 days. 21.40% of the stock is currently owned by company insiders.

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.