Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) was up 2.8% on Friday . The stock traded as high as $19.80 and last traded at $19.41. Approximately 4,265,717 shares traded hands during trading, a decline of 71% from the average daily volume of 14,871,010 shares. The stock had previously closed at $18.88.
A number of research firms have issued reports on SERV. Northland Capmk upgraded Serve Robotics to a "strong-buy" rating in a report on Friday, October 18th. Seaport Res Ptn upgraded shares of Serve Robotics to a "strong-buy" rating in a research note on Monday, October 7th. LADENBURG THALM/SH SH initiated coverage on shares of Serve Robotics in a research report on Monday, October 28th. They set a "buy" rating and a $16.00 price target for the company. Finally, Northland Securities boosted their price objective on shares of Serve Robotics from $16.00 to $23.00 and gave the stock an "outperform" rating in a research note on Wednesday. Two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Serve Robotics presently has a consensus rating of "Strong Buy" and an average price target of $19.50.
View Our Latest Stock Report on SERV
The business has a 50 day moving average price of $12.91 and a 200 day moving average price of $10.30.
In other news, CEO Ali Kashani sold 2,500 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $13.52, for a total transaction of $33,800.00. Following the sale, the chief executive officer now owns 3,344,498 shares in the company, valued at $45,217,612.96. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James Buckly Jordan sold 64,408 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $8.57, for a total transaction of $551,976.56. Following the sale, the director now directly owns 449,052 shares of the company's stock, valued at $3,848,375.64. This trade represents a 12.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 253,027 shares of company stock valued at $3,309,166. 21.40% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. Larson Financial Group LLC purchased a new stake in shares of Serve Robotics during the third quarter valued at $26,000. Bfsg LLC bought a new position in Serve Robotics during the 3rd quarter valued at about $38,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Serve Robotics during the 3rd quarter valued at about $68,000. Quantum Private Wealth LLC bought a new stake in shares of Serve Robotics in the third quarter worth approximately $80,000. Finally, SG Americas Securities LLC purchased a new position in shares of Serve Robotics during the fourth quarter valued at approximately $114,000.
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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