Serve Robotics (NASDAQ:SERV) Trading Up 2.6% - What's Next?

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) shares shot up 2.6% during mid-day trading on Thursday . The stock traded as high as $17.25 and last traded at $16.47. 4,127,264 shares were traded during mid-day trading, a decline of 64% from the average session volume of 11,523,459 shares. The stock had previously closed at $16.05.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SERV shares. Northland Capmk upgraded shares of Serve Robotics to a "strong-buy" rating in a research note on Friday, October 18th. LADENBURG THALM/SH SH began coverage on shares of Serve Robotics in a report on Monday, October 28th. They set a "buy" rating and a $16.00 price target on the stock. Finally, Northland Securities upped their price objective on Serve Robotics from $16.00 to $23.00 and gave the company an "outperform" rating in a research report on Wednesday, January 15th. Two analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy" and a consensus target price of $19.50.

Serve Robotics Stock Down 9.1 %

The business's 50 day moving average price is $15.79 and its 200 day moving average price is $11.89.

Insider Buying and Selling at Serve Robotics

In other news, CEO Ali Kashani sold 9,719 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $8.77, for a total value of $85,235.63. Following the completion of the sale, the chief executive officer now directly owns 3,355,238 shares in the company, valued at $29,425,437.26. This represents a 0.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James Buckly Jordan sold 64,408 shares of the business's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $8.57, for a total value of $551,976.56. Following the sale, the director now directly owns 449,052 shares of the company's stock, valued at $3,848,375.64. This represents a 12.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 253,027 shares of company stock worth $3,309,166. Insiders own 21.40% of the company's stock.

Institutional Trading of Serve Robotics

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. bought a new stake in Serve Robotics during the fourth quarter valued at about $27,000. Bogart Wealth LLC bought a new position in shares of Serve Robotics during the 4th quarter valued at about $37,000. Larson Financial Group LLC bought a new stake in shares of Serve Robotics in the third quarter worth about $26,000. Bfsg LLC bought a new position in Serve Robotics during the third quarter valued at approximately $38,000. Finally, SG Americas Securities LLC bought a new stake in Serve Robotics in the 4th quarter worth approximately $114,000.

Serve Robotics Company Profile

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.