Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) traded down 3.1% during mid-day trading on Thursday . The company traded as low as $6.99 and last traded at $7.17. 1,570,480 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 9,649,899 shares. The stock had previously closed at $7.40.
Analyst Ratings Changes
Separately, Northland Securities set a $23.00 price target on Serve Robotics in a research note 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Strong Buy" and a consensus price target of $19.50.
View Our Latest Stock Analysis on Serve Robotics
Serve Robotics Trading Up 9.3 %
The company has a market capitalization of $436.28 million and a price-to-earnings ratio of -6.36. The stock's fifty day simple moving average is $13.34 and its 200-day simple moving average is $11.55.
Insider Activity
In related news, CEO Ali Kashani sold 3,713 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $9.21, for a total transaction of $34,196.73. Following the sale, the chief executive officer now directly owns 3,225,852 shares in the company, valued at approximately $29,710,096.92. This represents a 0.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 67,051 shares of company stock worth $1,207,671. Corporate insiders own 21.40% of the company's stock.
Institutional Investors Weigh In On Serve Robotics
A number of large investors have recently modified their holdings of SERV. Jefferies Financial Group Inc. grew its stake in shares of Serve Robotics by 30.3% during the fourth quarter. Jefferies Financial Group Inc. now owns 17,200 shares of the company's stock worth $232,000 after purchasing an additional 4,000 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of Serve Robotics during the 4th quarter worth about $815,000. Tidal Investments LLC lifted its stake in Serve Robotics by 57.6% during the fourth quarter. Tidal Investments LLC now owns 51,846 shares of the company's stock worth $700,000 after purchasing an additional 18,948 shares during the last quarter. Man Group plc acquired a new position in Serve Robotics in the fourth quarter valued at approximately $467,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Serve Robotics in the fourth quarter valued at approximately $431,000.
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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