Yong Rong HK Asset Management Ltd Has $9.50 Million Stock Holdings in Serve Robotics Inc. (NASDAQ:SERV)

Yong Rong HK Asset Management Ltd trimmed its position in shares of Serve Robotics Inc. (NASDAQ:SERV) by 41.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 704,000 shares of the company’s stock after selling 508,000 shares during the quarter. Serve Robotics accounts for approximately 4.1% of Yong Rong HK Asset Management Ltd’s holdings, making the stock its 7th largest position. Yong Rong HK Asset Management Ltd owned approximately 1.59% of Serve Robotics worth $9,504,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SERV. Larson Financial Group LLC bought a new position in Serve Robotics in the third quarter valued at about $26,000. Blue Trust Inc. purchased a new stake in shares of Serve Robotics during the 4th quarter valued at about $27,000. Bogart Wealth LLC purchased a new stake in shares of Serve Robotics during the 4th quarter valued at about $37,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of Serve Robotics in the 3rd quarter worth approximately $68,000. Finally, Quantum Private Wealth LLC purchased a new position in shares of Serve Robotics in the third quarter worth approximately $80,000.

Serve Robotics Price Performance

Serve Robotics stock opened at $12.01 on Friday. Serve Robotics Inc. has a 12-month low of $1.77 and a 12-month high of $24.35. The firm has a 50 day moving average of $16.55 and a 200 day moving average of $11.90.

Insiders Place Their Bets

In other news, CEO Ali Kashani sold 37,500 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $21.16, for a total value of $793,500.00. Following the transaction, the chief executive officer now directly owns 3,230,990 shares in the company, valued at $68,367,748.40. The trade was a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Touraj Parang sold 50,000 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $12.99, for a total value of $649,500.00. Following the completion of the transaction, the chief operating officer now directly owns 1,163,439 shares of the company’s stock, valued at approximately $15,113,072.61. This trade represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,793 shares of company stock worth $2,733,515 over the last three months. 21.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have commented on SERV shares. Northland Securities set a $23.00 target price on shares of Serve Robotics in a report on Tuesday. LADENBURG THALM/SH SH started coverage on Serve Robotics in a research note on Monday, October 28th. They issued a “buy” rating and a $16.00 price objective for the company. Two research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Strong Buy” and a consensus price target of $19.50.

Serve Robotics Company Profile

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.