Serve Robotics (NASDAQ:SERV) Stock Price Down 4%

Serve Robotics Inc. (NASDAQ:SERV) shares fell 4% during trading on Wednesday . The company traded as low as $6.35 and last traded at $6.45. 1,079,461 shares changed hands during trading, a decline of 90% from the average session volume of 11,294,810 shares. The stock had previously closed at $6.72.

Wall Street Analyst Weigh In

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

Serve Robotics Stock Up 5.9 %

The business has a fifty day moving average of $9.21.

Serve Robotics (NASDAQ:SERV) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.27) EPS for the quarter. The company had revenue of $0.47 million for the quarter. Serve Robotics had a negative return on equity of 728.80% and a negative net margin of 2,155.86%. As a group, equities analysts anticipate that Serve Robotics Inc. will post -0.85 EPS for the current year.

Hedge Funds Weigh In On Serve Robotics

A hedge fund recently bought a new stake in Serve Robotics stock. PFG Investments LLC bought a new stake in Serve Robotics Inc. (NASDAQ:SERV) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 56,408 shares of the company’s stock, valued at approximately $110,000. PFG Investments LLC owned approximately 0.15% of Serve Robotics as of its most recent SEC filing.

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.