Shares of Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) were up 2.5% during mid-day trading on Wednesday . The company traded as high as $7.64 and last traded at $7.15. Approximately 1,954,147 shares changed hands during trading, a decline of 83% from the average daily volume of 11,201,624 shares. The stock had previously closed at $6.97.
Analyst Upgrades and Downgrades
Separately, Northland Securities set a $23.00 target price on Serve Robotics in a report 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 company's stock. According to MarketBeat.com, Serve Robotics has an average rating of "Strong Buy" and a consensus price target of $19.50.
Check Out Our Latest Analysis on Serve Robotics
Serve Robotics Stock Performance
The stock has a fifty day simple moving average of $14.72 and a 200-day simple moving average of $11.57. The stock has a market cap of $337.64 million and a P/E ratio of -6.21.
Insider Transactions at Serve Robotics
In other news, CEO Ali Kashani sold 2,500 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $14.70, for a total transaction of $36,750.00. Following the completion of the transaction, the chief executive officer now directly owns 3,295,990 shares in the company, valued at $48,451,053. This represents a 0.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 90,531 shares of company stock worth $1,581,830 in the last three months. Insiders own 21.40% of the company's stock.
Hedge Funds Weigh In On Serve Robotics
A number of large investors have recently modified their holdings of the business. GSA Capital Partners LLP acquired a new stake in Serve Robotics in the 3rd quarter valued at about $152,000. Larson Financial Group LLC acquired a new stake in Serve Robotics in the 3rd quarter valued at about $26,000. Quadrature Capital Ltd acquired a new stake in Serve Robotics in the 3rd quarter valued at about $148,000. State Street Corp acquired a new stake in Serve Robotics in the 3rd quarter valued at about $333,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Serve Robotics in the 3rd quarter valued at about $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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Serve Robotics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Serve Robotics wasn't on the list.
While Serve Robotics currently has a Strong Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
