Atomi Financial Group Inc. Invests $209,000 in Serve Robotics Inc. (NASDAQ:SERV)

Atomi Financial Group Inc. purchased a new stake in shares of Serve Robotics Inc. (NASDAQ:SERV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 15,474 shares of the company's stock, valued at approximately $209,000.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC bought a new stake in shares of Serve Robotics in the 3rd quarter valued at approximately $26,000. Bfsg LLC purchased a new stake in Serve Robotics during the 3rd quarter valued at $38,000. Gordian Capital Singapore Pte Ltd bought a new stake in Serve Robotics in the third quarter worth $68,000. Quantum Private Wealth LLC purchased a new position in Serve Robotics during the third quarter worth $80,000. Finally, Quadrature Capital Ltd bought a new position in Serve Robotics during the third quarter valued at $148,000.

Analyst Ratings Changes

SERV has been the subject of a number of research reports. Northland Securities boosted their price target on Serve Robotics from $16.00 to $23.00 and gave the company an "outperform" rating in a report on Wednesday, January 15th. LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a research note on Monday, October 28th. They issued a "buy" rating and a $16.00 price objective for the company. Northland Capmk raised shares of Serve Robotics to a "strong-buy" rating in a research report on Friday, October 18th. Finally, Seaport Res Ptn raised shares of Serve Robotics to a "strong-buy" rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Strong Buy" and an average target price of $19.50.

Serve Robotics Stock Up 5.7 %

Shares of NASDAQ SERV traded up $0.94 during trading on Tuesday, hitting $17.51. The company had a trading volume of 5,348,052 shares, compared to its average volume of 13,437,058. The stock has a fifty day simple moving average of $14.09 and a two-hundred day simple moving average of $11.09. Serve Robotics Inc. has a fifty-two week low of $1.77 and a fifty-two week high of $24.35.

Serve Robotics (NASDAQ:SERV - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.20) EPS for the quarter, meeting the consensus estimate of ($0.20). Serve Robotics had a negative return on equity of 184.60% and a negative net margin of 1,972.12%. The firm had revenue of $0.22 million during the quarter, compared to the consensus estimate of $0.36 million. Equities analysts predict that Serve Robotics Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ali Kashani sold 9,719 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.77, for a total value of $85,235.63. Following the transaction, the chief executive officer now directly owns 3,355,238 shares in the company, valued at approximately $29,425,437.26. This represents a 0.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Touraj Parang sold 50,000 shares of the 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 transaction, the chief operating officer now directly owns 1,163,439 shares in the company, valued at approximately $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 253,027 shares of company stock worth $3,309,166. Company insiders own 21.40% of the company's stock.

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.