Serve Robotics Inc. (NASDAQ:SERV - Get Free Report)'s share price traded down 2.1% during mid-day trading on Thursday . The stock traded as low as $7.64 and last traded at $8.10. 1,690,013 shares were traded during mid-day trading, a decline of 86% from the average session volume of 11,762,455 shares. The stock had previously closed at $8.28.
Analyst Ratings Changes
Separately, Northland Securities set a $23.00 price target on shares of Serve Robotics in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Strong Buy" and an average target price of $19.50.
Check Out Our Latest Analysis on Serve Robotics
Serve Robotics Stock Performance
The stock has a fifty day moving average of $14.99 and a 200-day moving average of $11.63. The company has a market cap of $308.76 million and a PE ratio of -5.81.
Insider Activity
In related news, CEO Ali Kashani sold 2,500 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $12.48, for a total value of $31,200.00. Following the transaction, the chief executive officer now owns 3,329,498 shares of the company's stock, valued at $41,552,135.04. This trade represents a 0.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders sold 93,031 shares of company stock valued at $1,613,030. 21.40% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Serve Robotics
A number of hedge funds have recently added to or reduced their stakes in SERV. Uber Technologies Inc bought a new stake in shares of Serve Robotics during the fourth quarter valued at approximately $71,534,000. Exchange Traded Concepts LLC bought a new stake in Serve Robotics during the 4th quarter valued at $9,066,000. Vanguard Group Inc. raised its position in Serve Robotics by 74.6% during the 4th quarter. Vanguard Group Inc. now owns 1,274,303 shares of the company's stock valued at $17,203,000 after purchasing an additional 544,537 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of Serve Robotics in the 4th quarter worth $6,629,000. Finally, Captrust Financial Advisors bought a new position in shares of Serve Robotics during the 4th quarter worth $3,672,000.
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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