Serve Robotics Inc. (NASDAQ:SERV - Get Free Report)'s stock price traded up 7.9% during mid-day trading on Thursday . The stock traded as high as $21.75 and last traded at $21.12. 5,261,880 shares changed hands during trading, a decline of 54% from the average session volume of 11,344,415 shares. The stock had previously closed at $19.57.
Analyst Ratings Changes
Several research firms recently weighed in on SERV. LADENBURG THALM/SH SH initiated coverage on Serve Robotics in a report on Monday, October 28th. They set a "buy" rating and a $16.00 price objective on the stock. Northland Securities lifted their price target on Serve Robotics from $16.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Serve Robotics has a consensus rating of "Strong Buy" and a consensus target price of $19.50.
Check Out Our Latest Stock Analysis on SERV
Serve Robotics Stock Performance
The business's fifty day moving average price is $16.52 and its 200 day moving average price is $11.92.
Insiders Place Their Bets
In other Serve Robotics news, Director James Buckly Jordan sold 64,408 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $8.57, for a total transaction of $551,976.56. Following the completion of the transaction, the director now owns 449,052 shares in the company, valued at approximately $3,848,375.64. This trade represents a 12.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ali Kashani sold 9,719 shares of the business's stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $8.77, for a total transaction of $85,235.63. Following the completion of the transaction, the chief executive officer now owns 3,355,238 shares in the company, valued at $29,425,437.26. This trade represents a 0.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 251,555 shares of company stock valued at $3,297,405. 21.40% of the stock is currently owned by company insiders.
Institutional Trading of Serve Robotics
Large investors have recently bought and sold shares of the business. Two Sigma Investments LP acquired a new position in shares of Serve Robotics in the 4th quarter valued at about $815,000. Tidal Investments LLC lifted its stake in Serve Robotics by 57.6% in the fourth quarter. Tidal Investments LLC now owns 51,846 shares of the company's stock valued at $700,000 after buying an additional 18,948 shares during the period. Man Group plc acquired a new position in Serve Robotics in the fourth quarter valued at approximately $467,000. OMERS ADMINISTRATION Corp bought a new position in shares of Serve Robotics during the 4th quarter worth approximately $431,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Serve Robotics during the 4th quarter worth approximately $1,279,000.
Serve Robotics Company Profile
(
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.
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