Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) shares fell 5.9% during trading on Thursday . The company traded as low as $10.22 and last traded at $10.70. 2,513,551 shares changed hands during trading, a decline of 74% from the average session volume of 9,807,502 shares. The stock had previously closed at $11.37.
Wall Street Analyst Weigh In
SERV has been the subject of several research reports. Seaport Res Ptn raised Serve Robotics to a "strong-buy" rating in a research report on Monday, October 7th. Northland Securities began coverage on Serve Robotics in a research note on Friday, October 18th. They set an "outperform" rating and a $16.00 target price on the stock. Northland Capmk upgraded Serve Robotics to a "strong-buy" rating in a research note on Friday, October 18th. LADENBURG THALM/SH SH began coverage on Serve Robotics in a research note on Monday. They issued a "buy" rating and a $16.00 price target on the stock. Finally, Aegis upgraded Serve Robotics to a "strong-buy" rating in a research note on Wednesday, July 24th. Two research 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 company currently has a consensus rating of "Strong Buy" and an average price target of $16.00.
Get Our Latest Report on Serve Robotics
Serve Robotics Stock Down 10.9 %
The business has a 50-day moving average price of $8.70.
Serve Robotics (NASDAQ:SERV - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.27) earnings per share (EPS) for the quarter. The business had revenue of $0.47 million for the quarter. Serve Robotics had a negative net margin of 2,155.86% and a negative return on equity of 728.80%. On average, analysts expect that Serve Robotics Inc. will post -0.95 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Serve Robotics
Large investors have recently made changes to their positions in the business. Yong Rong HK Asset Management Ltd acquired a new stake in Serve Robotics during the 3rd quarter worth about $9,636,000. Thomist Capital Management LP acquired a new stake in Serve Robotics during the 2nd quarter worth about $407,000. PFG Investments LLC acquired a new stake in Serve Robotics during the 2nd quarter worth about $110,000. Harbour Capital Advisors LLC acquired a new stake in Serve Robotics during the 3rd quarter worth about $198,000. Finally, Bfsg LLC acquired a new stake in Serve Robotics during the 3rd quarter worth about $38,000.
Serve Robotics Company Profile
(
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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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