Shares of Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) dropped 4% during trading on Monday . The stock traded as low as $7.51 and last traded at $7.68. Approximately 1,275,456 shares changed hands during trading, a decline of 87% from the average daily volume of 9,460,713 shares. The stock had previously closed at $8.00.
Wall Street Analyst Weigh In
SERV has been the subject of a number of research analyst reports. Northland Capmk raised Serve Robotics to a "strong-buy" rating in a report on Friday, October 18th. Northland Securities assumed coverage on shares of Serve Robotics in a research note on Friday, October 18th. They set an "outperform" rating and a $16.00 price target on the stock. LADENBURG THALM/SH SH initiated coverage on shares of Serve Robotics in a research report on Monday, October 28th. They issued a "buy" rating and a $16.00 price objective for the company. Seaport Res Ptn upgraded Serve Robotics to a "strong-buy" rating in a research report on Monday, October 7th. Finally, Aegis upgraded Serve Robotics to a "strong-buy" rating in a research report on Wednesday, July 24th. Two equities research 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.com, the stock currently has a consensus rating of "Strong Buy" and an average price target of $16.00.
Check Out Our Latest Research Report on SERV
Serve Robotics Price Performance
The firm's fifty day moving average price is $8.84 and its 200-day moving average price is $7.02.
Institutional Trading of Serve Robotics
Institutional investors have recently made changes to their positions in the business. Yong Rong HK Asset Management Ltd acquired a new position in shares of Serve Robotics during the 3rd quarter worth about $9,636,000. Thomist Capital Management LP acquired a new position in Serve Robotics during the second quarter valued at approximately $407,000. Geode Capital Management LLC increased its position in shares of Serve Robotics by 128.1% during the 3rd quarter. Geode Capital Management LLC now owns 130,853 shares of the company's stock worth $1,041,000 after purchasing an additional 73,496 shares during the last quarter. PFG Investments LLC bought a new stake in shares of Serve Robotics during the 2nd quarter worth approximately $110,000. Finally, State Street Corp bought a new stake in Serve Robotics during the third quarter worth $333,000.
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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