Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) shares traded up 8.8% during mid-day trading on Friday . The company traded as high as $7.69 and last traded at $7.64. 2,479,486 shares traded hands during trading, a decline of 77% from the average session volume of 10,935,918 shares. The stock had previously closed at $7.02.
Wall Street Analyst Weigh In
Separately, Northland Securities set a $23.00 target price on shares of Serve Robotics in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Strong Buy" and a consensus target price of $19.50.
Check Out Our Latest Research Report on Serve Robotics
Serve Robotics Stock Down 0.7 %
The business has a 50 day moving average of $14.49 and a 200 day moving average of $11.59. The company has a market capitalization of $336.89 million and a P/E ratio of -6.34.
Insider Transactions at Serve Robotics
In related news, CEO Ali Kashani sold 2,500 shares of the firm's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $14.70, for a total value of $36,750.00. Following the completion of the transaction, the chief executive officer now directly owns 3,295,990 shares of the company's stock, valued at approximately $48,451,053. This trade represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 68,031 shares of company stock valued at $1,245,905 in the last ninety days. Corporate insiders own 21.40% of the company's stock.
Hedge Funds Weigh In On Serve Robotics
A number of institutional investors and hedge funds have recently made changes to their positions in SERV. Jefferies Financial Group Inc. raised its position in shares of Serve Robotics by 30.3% during the 4th quarter. Jefferies Financial Group Inc. now owns 17,200 shares of the company's stock valued at $232,000 after buying an additional 4,000 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Serve Robotics during the fourth quarter valued at approximately $815,000. Tidal Investments LLC raised its position in Serve Robotics by 57.6% during the fourth quarter. Tidal Investments LLC now owns 51,846 shares of the company's stock valued at $700,000 after purchasing an additional 18,948 shares during the period. Man Group plc bought a new stake in shares of Serve Robotics in the 4th quarter valued at approximately $467,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of Serve Robotics in the 4th quarter worth approximately $431,000.
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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