Serve Robotics Inc.'s Lock-Up Period Set To End on October 15th (NASDAQ:SERV)

Serve Robotics' (NASDAQ:SERV - Get Free Report) lock-up period is set to expire on Tuesday, October 15th. Serve Robotics had issued 10,000,000 shares in its initial public offering on April 18th. The total size of the offering was $40,000,000 based on an initial share price of $4.00. After the expiration of the company's lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Seaport Res Ptn upgraded shares of Serve Robotics to a "strong-buy" rating in a research report on Monday. Aegis raised shares of Serve Robotics to a "strong-buy" rating in a report on Wednesday, July 24th.

Serve Robotics Stock Performance

NASDAQ SERV traded down $0.14 during trading on Tuesday, reaching $9.66. 5,768,362 shares of the stock traded hands, compared to its average volume of 10,318,311. Serve Robotics has a fifty-two week low of $1.77 and a fifty-two week high of $24.09. The firm's 50-day moving average is $9.89.

Serve Robotics (NASDAQ:SERV - Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.27) EPS for the quarter. The firm had revenue of $0.47 million during the quarter. Serve Robotics had a negative net margin of 2,155.86% and a negative return on equity of 728.80%. Analysts predict that Serve Robotics will post -0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Serve Robotics stock. Thomist Capital Management LP purchased a new position in shares of Serve Robotics Inc. (NASDAQ:SERV - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 208,910 shares of the company's stock, valued at approximately $407,000. Thomist Capital Management LP owned about 0.56% of Serve Robotics as of its most recent SEC filing.

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.