Serve Robotics (NASDAQ:SERV) Trading Up 2.2% – Should You Buy?

Serve Robotics Inc. (NASDAQ:SERVGet Free Report)’s stock price rose 2.2% during mid-day trading on Tuesday . The stock traded as high as $15.80 and last traded at $15.06. Approximately 4,618,565 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 9,437,413 shares. The stock had previously closed at $14.73.

Analyst Upgrades and Downgrades

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

Get Our Latest Analysis on Serve Robotics

Serve Robotics Price Performance

The stock has a fifty day simple moving average of $10.30 and a 200-day simple moving average of $8.46.

Insider Activity at Serve Robotics

In other news, Director James Buckly Jordan sold 64,408 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $8.57, for a total value of $551,976.56. Following the completion of the sale, the director now directly owns 449,052 shares in the company, valued at $3,848,375.64. The trade was a 12.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ali Kashani sold 22,500 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $14.93, for a total value of $335,925.00. Following the transaction, the chief executive officer now owns 3,306,998 shares in the company, valued at $49,373,480.14. This trade represents a 0.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 194,922 shares of company stock worth $2,178,354 in the last three months. Company insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On Serve Robotics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC acquired a new stake in Serve Robotics in the 3rd quarter worth about $26,000. Bfsg LLC purchased a new position in shares of Serve Robotics in the third quarter valued at approximately $38,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Serve Robotics in the third quarter worth approximately $68,000. Quantum Private Wealth LLC purchased a new stake in shares of Serve Robotics during the third quarter worth approximately $80,000. Finally, PFG Investments LLC acquired a new position in Serve Robotics in the 2nd quarter valued at $110,000.

About Serve Robotics

(Get Free Report)

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.

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