Serve Robotics Inc. (NASDAQ:SERV - Get Free Report)'s stock price fell 6.3% on Tuesday . The stock traded as low as $7.33 and last traded at $7.34. 1,615,726 shares traded hands during trading, a decline of 83% from the average session volume of 9,695,661 shares. The stock had previously closed at $7.83.
Analyst Upgrades and Downgrades
Separately, Northland Securities set a $23.00 price objective on shares of Serve Robotics in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Strong Buy" and a consensus target price of $19.50.
Check Out Our Latest Stock Analysis on Serve Robotics
Serve Robotics Stock Performance
The firm has a market cap of $399.00 million and a PE ratio of -5.84. The stock has a 50-day simple moving average of $13.34 and a two-hundred day simple moving average of $11.50.
Insider Activity
In related news, CEO Ali Kashani sold 7,500 shares of Serve Robotics stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $16.50, for a total value of $123,750.00. Following the completion of the sale, the chief executive officer now owns 3,283,490 shares of the company's stock, valued at $54,177,585. The trade was a 0.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 67,051 shares of company stock valued at $1,207,671 over the last three months. Insiders own 21.40% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC bought a new position in shares of Serve Robotics in the 3rd quarter worth approximately $26,000. Blue Trust Inc. bought a new stake in shares of Serve Robotics during the 4th quarter valued at $27,000. CIBC Private Wealth Group LLC purchased a new position in Serve Robotics during the fourth quarter valued at $34,000. Bogart Wealth LLC purchased a new position in shares of Serve Robotics during the 4th quarter valued at about $37,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Serve Robotics in the 3rd quarter worth approximately $68,000.
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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