Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) shares dropped 0.7% on Monday after an insider sold shares in the company. The company traded as low as $8.68 and last traded at $8.95. Approximately 2,229,003 shares were traded during trading, a decline of 82% from the average daily volume of 12,244,363 shares. The stock had previously closed at $9.01.
Specifically, CEO Ali Kashani sold 3,713 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $9.21, for a total value of $34,196.73. Following the transaction, the chief executive officer now owns 3,225,852 shares of the company's stock, valued at $29,710,096.92. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Analyst Upgrades and Downgrades
Separately, Northland Securities set a $23.00 price objective on shares of Serve Robotics in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and an average target price of $19.50.
Check Out Our Latest Research Report on Serve Robotics
Serve Robotics Stock Performance
The business has a 50 day moving average of $15.47 and a 200 day moving average of $11.70.
Hedge Funds Weigh In On Serve Robotics
Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new stake in Serve Robotics during the 3rd quarter worth approximately $26,000. Blue Trust Inc. purchased a new stake in shares of Serve Robotics during the fourth quarter worth $27,000. CIBC Private Wealth Group LLC purchased a new position in Serve Robotics in the fourth quarter valued at $34,000. Bogart Wealth LLC acquired a new position in Serve Robotics in the fourth quarter valued at $37,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Serve Robotics during the third quarter worth about $68,000.
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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