Investors Purchase High Volume of Call Options on Serve Robotics (NASDAQ:SERV)

Serve Robotics Inc. (NASDAQ:SERV) saw unusually large options trading on Wednesday. Stock investors acquired 29,207 call options on the stock. This represents an increase of 95% compared to the average daily volume of 14,976 call options.

Insider Buying and Selling

In related news, CEO Ali Kashani sold 9,719 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $8.77, for a total transaction of $85,235.63. Following the completion of the sale, the chief executive officer now directly owns 3,355,238 shares of the company’s stock, valued at approximately $29,425,437.26. This trade represents a 0.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Touraj Parang sold 50,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $12.99, for a total transaction of $649,500.00. Following the completion of the transaction, the chief operating officer now directly owns 1,163,439 shares in the company, valued at $15,113,072.61. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 251,555 shares of company stock worth $3,297,405. Company insiders own 21.40% of the company’s stock.

Institutional Trading of Serve Robotics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. bought a new stake in Serve Robotics during the fourth quarter valued at $27,000. CIBC Private Wealth Group LLC bought a new stake in Serve Robotics during the fourth quarter valued at $34,000. Bogart Wealth LLC acquired a new position in shares of Serve Robotics during the fourth quarter valued at $37,000. Larson Financial Group LLC acquired a new stake in Serve Robotics in the third quarter worth about $26,000. Finally, SG Americas Securities LLC acquired a new stake in Serve Robotics in the fourth quarter worth about $114,000.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Northland Securities increased their price target on shares of Serve Robotics from $16.00 to $23.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 15th. LADENBURG THALM/SH SH initiated coverage on shares of Serve Robotics in a report on Monday, October 28th. They issued a “buy” rating and a $16.00 price target for the company. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Strong Buy” and a consensus price target of $19.50.

Serve Robotics Trading Up 18.5 %

Shares of NASDAQ SERV traded up $2.18 during trading on Wednesday, reaching $14.00. 19,400,937 shares of the stock were exchanged, compared to its average volume of 13,555,350. The business’s 50-day moving average price is $16.52 and its 200 day moving average price is $11.92. Serve Robotics has a twelve month low of $1.77 and a twelve month high of $24.35.

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.