Investors Buy High Volume of Call Options on Serve Robotics (NASDAQ:SERV)

Serve Robotics Inc. (NASDAQ:SERV - Get Free Report) was the target of some unusual options trading on Friday. Traders bought 20,005 call options on the stock. This represents an increase of approximately 158% compared to the average volume of 7,765 call options.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SERV shares. Northland Securities began coverage on shares of Serve Robotics in a report on Friday, October 18th. They issued an "outperform" rating and a $16.00 price target on the stock. Northland Capmk raised Serve Robotics to a "strong-buy" rating in a report on Friday, October 18th. Seaport Res Ptn raised Serve Robotics to a "strong-buy" rating in a report on Monday, October 7th. Finally, LADENBURG THALM/SH SH started coverage on shares of Serve Robotics in a research note on Monday, October 28th. They issued a "buy" rating and a $16.00 target price on the stock. Two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Serve Robotics has a consensus rating of "Strong Buy" and a consensus price target of $16.00.

Insider Activity at Serve Robotics

In other Serve Robotics news, Director James Buckly Jordan sold 64,408 shares of the stock in a transaction dated 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 $3,848,375.64. This trade represents a 12.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ali Kashani sold 9,719 shares of the company's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $8.77, for a total transaction of $85,235.63. Following the sale, the chief executive officer now owns 3,355,238 shares in the company, valued at $29,425,437.26. The trade was a 0.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,337 shares of company stock worth $690,974. Insiders own 21.40% of the company's stock.

Institutional Trading of Serve Robotics

A number of hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC purchased a new position in shares of Serve Robotics during the third quarter worth approximately $26,000. Bfsg LLC bought a new position in shares of Serve Robotics during the 3rd quarter valued at $38,000. Gordian Capital Singapore Pte Ltd purchased a new position in Serve Robotics in the 3rd quarter worth $68,000. Quantum Private Wealth LLC bought a new stake in Serve Robotics in the third quarter worth $80,000. Finally, PFG Investments LLC purchased a new stake in Serve Robotics during the second quarter valued at about $110,000.

Serve Robotics Trading Up 23.8 %

SERV stock traded up $2.27 during mid-day trading on Friday, hitting $11.80. 20,026,438 shares of the stock were exchanged, compared to its average volume of 4,657,577. The business has a fifty day moving average price of $9.22 and a 200 day moving average price of $7.54. Serve Robotics has a 12 month low of $1.77 and a 12 month high of $24.09.

About Serve Robotics

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.