Serve Robotics Inc. (NASDAQ:SERV - Get Free Report)'s stock price traded up 0.3% on Wednesday . The company traded as high as $7.60 and last traded at $7.22. 1,105,013 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 9,671,938 shares. The stock had previously closed at $7.19.
Wall Street Analysts Forecast Growth
Separately, Northland Securities set a $23.00 target price on Serve Robotics in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Serve Robotics has an average rating of "Strong Buy" and an average price target of $19.50.
Get Our Latest Analysis on SERV
Serve Robotics Stock Up 1.2 %
The company has a fifty day moving average price of $13.34 and a 200 day moving average price of $11.53. The stock has a market cap of $399.00 million and a PE ratio of -5.84.
Insiders Place Their Bets
In other Serve Robotics news, CEO Ali Kashani sold 5,000 shares of the firm's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $14.55, for a total value of $72,750.00. Following the sale, the chief executive officer now owns 3,290,990 shares of the company's stock, valued at $47,883,904.50. This trade represents a 0.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 67,051 shares of company stock valued at $1,207,671 in the last ninety days. Company insiders own 21.40% of the company's stock.
Hedge Funds Weigh In On Serve Robotics
Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp purchased a new position in Serve Robotics during the 3rd quarter valued at about $333,000. Exchange Traded Concepts LLC bought a new stake in shares of Serve Robotics in the 4th quarter worth approximately $9,066,000. Atomi Financial Group Inc. purchased a new position in shares of Serve Robotics during the fourth quarter valued at approximately $209,000. Geode Capital Management LLC raised its holdings in shares of Serve Robotics by 128.1% during the third quarter. Geode Capital Management LLC now owns 130,853 shares of the company's stock valued at $1,041,000 after acquiring an additional 73,496 shares in the last quarter. Finally, Stephens Inc. AR purchased a new stake in Serve Robotics in the fourth quarter worth $142,000.
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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