Serve Robotics (NASDAQ:SERV) Stock Price Up 1.9% – Here’s What Happened

by · The Markets Daily

Serve Robotics Inc. (NASDAQ:SERV – Get Free Report)’s stock price rose 1.9% during trading on Thursday . The company traded as high as $10.65 and last traded at $10.28. Approximately 1,985,586 shares changed hands during trading, a decline of 79% from the average daily volume of 9,610,510 shares. The stock had previously closed at $10.09.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SERV shares. Northland Securities initiated coverage on shares of Serve Robotics in a research note on Friday, October 18th. They issued an “outperform” rating and a $16.00 target price for the company. Northland Capmk upgraded Serve Robotics to a “strong-buy” rating in a research note on Friday, October 18th. Seaport Res Ptn upgraded Serve Robotics to a “strong-buy” rating in a research note on Monday, October 7th. Aegis upgraded Serve Robotics to a “strong-buy” rating in a research note on Wednesday, July 24th. Finally, LADENBURG THALM/SH SH began coverage on shares of Serve Robotics in a research report on Monday, October 28th. They issued a “buy” rating and a $16.00 price objective for the company. Two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Serve Robotics presently has a consensus rating of “Strong Buy” and an average price target of $16.00.

Check Out Our Latest Research Report on Serve Robotics

Serve Robotics Price Performance

The business has a 50 day simple moving average of $8.72.

Serve Robotics (NASDAQ:SERV – Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported ($0.27) EPS for the quarter. Serve Robotics had a negative net margin of 2,155.86% and a negative return on equity of 728.80%. The firm had revenue of $0.47 million during the quarter. On average, analysts forecast that Serve Robotics Inc. will post -0.96 earnings per share for the current year.

Hedge Funds Weigh In On Serve Robotics

Institutional investors and hedge funds have recently modified their holdings of the stock. Bfsg LLC acquired a new stake in Serve Robotics during the third quarter worth about $38,000. Quantum Private Wealth LLC purchased a new stake in Serve Robotics in the 3rd quarter worth approximately $80,000. GSA Capital Partners LLP acquired a new stake in shares of Serve Robotics during the 3rd quarter worth approximately $152,000. Harbour Capital Advisors LLC purchased a new position in shares of Serve Robotics during the 3rd quarter valued at approximately $198,000. Finally, PFG Investments LLC acquired a new position in shares of 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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