Shares of Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) traded up 1.2% during mid-day trading on Monday . The company traded as high as $7.93 and last traded at $7.76. 1,796,424 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 10,829,238 shares. The stock had previously closed at $7.66.
Wall Street Analysts Forecast Growth
Separately, Northland Securities set a $23.00 price objective on Serve Robotics in a research note on Tuesday, February 18th. Two analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Strong Buy" and a consensus price target of $19.50.
Get Our Latest Analysis on Serve Robotics
Serve Robotics Stock Performance
The business has a fifty day simple moving average of $13.57 and a 200 day simple moving average of $11.51. The company has a market cap of $396.43 million and a P/E ratio of -5.79.
Insiders Place Their Bets
In related news, CEO Ali Kashani sold 37,500 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $21.16, for a total value of $793,500.00. Following the sale, the chief executive officer now owns 3,230,990 shares of the company's stock, valued at approximately $68,367,748.40. This trade represents a 1.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 67,051 shares of company stock valued at $1,207,671 in the last quarter. Insiders own 21.40% of the company's stock.
Institutional Trading of Serve Robotics
Several hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC bought a new stake in Serve Robotics during the 3rd quarter valued at $26,000. Blue Trust Inc. bought a new stake in Serve Robotics during the 4th quarter valued at $27,000. CIBC Private Wealth Group LLC acquired a new position in shares of Serve Robotics during the 4th quarter valued at $34,000. Bogart Wealth LLC acquired a new position in shares of Serve Robotics during the 4th quarter valued at $37,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in shares of Serve Robotics during the 3rd quarter valued at $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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