Serve Robotics (NASDAQ:SERV) Stock Price Up 4.5%

Shares of Serve Robotics Inc. (NASDAQ:SERV) were up 4.5% during mid-day trading on Friday . The stock traded as high as $7.70 and last traded at $7.67. Approximately 1,220,923 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 11,192,417 shares. The stock had previously closed at $7.34.

Wall Street Analysts Forecast Growth

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

Serve Robotics Stock Performance

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

Serve Robotics (NASDAQ:SERV) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.27) EPS for the quarter. Serve Robotics had a negative net margin of 2,155.86% and a negative return on equity of 728.80%. The firm had revenue of $0.47 million during the quarter. Analysts forecast that Serve Robotics Inc. will post -0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On Serve Robotics

An institutional investor recently bought a new position in Serve Robotics stock. PFG Investments LLC 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 56,408 shares of the company’s stock, valued at approximately $110,000. PFG Investments LLC owned about 0.15% 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.