Serve Robotics (NASDAQ:SERV) Stock Price Down 2.7%

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report)'s stock price dropped 2.7% during mid-day trading on Friday . The stock traded as low as $7.22 and last traded at $7.33. Approximately 713,995 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 11,556,241 shares. The stock had previously closed at $7.53.

Wall Street Analysts Forecast Growth

Separately, Aegis upgraded Serve Robotics to a "strong-buy" rating in a research report on Wednesday, July 24th.

Serve Robotics Stock Down 4.1 %

The company's 50-day simple moving average is $8.70.

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

Institutional Investors Weigh In On Serve Robotics

An institutional investor recently bought a new position in Serve Robotics stock. PFG Investments LLC purchased a new position in shares of Serve Robotics Inc. (NASDAQ:SERV - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 56,408 shares of the company's stock, valued at approximately $110,000. PFG Investments LLC owned about 0.15% of Serve Robotics at the end of the most recent reporting period.

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.