Serve Robotics (NASDAQ:SERV) Trading Up 26.6%

Serve Robotics Inc. (NASDAQ:SERV)’s share price was up 26.6% on Wednesday . The company traded as high as $14.40 and last traded at $13.13. Approximately 23,146,697 shares traded hands during trading, an increase of 85% from the average daily volume of 12,487,931 shares. The stock had previously closed at $10.37.

Wall Street Analyst Weigh In

Separately, Aegis upgraded Serve Robotics to a “strong-buy” rating in a report on Wednesday, July 24th.

Serve Robotics Price Performance

The stock has a fifty day simple moving average of $6.50.

Serve Robotics (NASDAQ:SERV) last posted its earnings results on Wednesday, May 15th. The company reported ($0.37) earnings per share for the quarter. The business had revenue of $0.95 million during the quarter. On average, analysts forecast that Serve Robotics Inc. will post -0.86 earnings per share for the current fiscal year.

Institutional Trading of Serve Robotics

A hedge fund recently bought a new stake in Serve Robotics stock. Thomist Capital Management LP acquired a new stake in shares of Serve Robotics Inc. (NASDAQ:SERV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 208,910 shares of the company’s stock, valued at approximately $407,000. Thomist Capital Management LP owned about 0.56% of Serve Robotics at the end of the most recent quarter.

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.