Insider Selling: Serve Robotics Inc. (NASDAQ:SERV) CEO Sells 9,719 Shares of Stock

Serve Robotics Inc. (NASDAQ:SERV) CEO Ali Kashani sold 9,719 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $8.77, for a total value of $85,235.63. Following the completion of the sale, the chief executive officer now owns 3,355,238 shares in the company, valued at approximately $29,425,437.26. This trade represents a 0.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Ali Kashani also recently made the following trade(s):

• On Thursday, November 21st, Ali Kashani sold 1,109 shares of Serve Robotics stock. The stock was sold at an average price of $8.79, for a total value of $9,748.11.

Serve Robotics Trading Down 2.2 %

NASDAQ:SERV traded down $0.19 during trading hours on Wednesday, reaching $8.59. 3,187,323 shares of the company were exchanged, compared to its average volume of 9,206,904. Serve Robotics Inc. has a 1-year low of $1.77 and a 1-year high of $24.09. The business has a 50 day moving average of $9.02 and a 200 day moving average of $7.28.

Institutional Investors Weigh In On Serve Robotics

Large investors have recently added to or reduced their stakes in the stock. Yong Rong HK Asset Management Ltd acquired a new stake in Serve Robotics during the third quarter worth approximately $9,636,000. Thomist Capital Management LP bought a new stake in Serve Robotics during the second quarter worth $407,000. PFG Investments LLC bought a new stake in Serve Robotics during the second quarter worth $110,000. Bfsg LLC bought a new stake in Serve Robotics during the third quarter worth $38,000. Finally, GSA Capital Partners LLP bought a new stake in Serve Robotics during the third quarter worth $152,000.

Analysts Set New Price Targets

SERV has been the topic of several research analyst reports. LADENBURG THALM/SH SH initiated coverage on Serve Robotics in a research note on Monday, October 28th. They issued a “buy” rating and a $16.00 price objective on the stock. Northland Securities initiated coverage on Serve Robotics in a research note on Friday, October 18th. They issued an “outperform” rating and a $16.00 price objective on the stock. Northland Capmk upgraded Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Finally, Seaport Res Ptn upgraded Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Serve Robotics has a consensus rating of “Strong Buy” and a consensus target price of $16.00.

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.