Atomi Financial Group Inc. Purchases Shares of 15,474 Serve Robotics Inc. (NASDAQ:SERV)

Atomi Financial Group Inc. bought a new stake in Serve Robotics Inc. (NASDAQ:SERV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,474 shares of the company's stock, valued at approximately $209,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Larson Financial Group LLC bought a new position in shares of Serve Robotics in the 3rd quarter valued at about $26,000. Bfsg LLC acquired a new stake in Serve Robotics in the 3rd quarter valued at about $38,000. Gordian Capital Singapore Pte Ltd acquired a new position in Serve Robotics during the third quarter worth approximately $68,000. Quantum Private Wealth LLC bought a new stake in Serve Robotics in the third quarter valued at approximately $80,000. Finally, Quadrature Capital Ltd bought a new stake in Serve Robotics in the 3rd quarter valued at $148,000.

Insider Activity

In other news, CEO Ali Kashani sold 9,719 shares of Serve Robotics 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 completion of the transaction, the chief executive officer now directly owns 3,355,238 shares in the company, valued at approximately $29,425,437.26. This trade represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Touraj Parang sold 50,000 shares of Serve Robotics stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $12.99, for a total value of $649,500.00. Following the completion of the transaction, the chief operating officer now directly owns 1,163,439 shares of the company's stock, valued at approximately $15,113,072.61. This represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 253,027 shares of company stock valued at $3,309,166. 21.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. LADENBURG THALM/SH SH began coverage on Serve Robotics in a research note on Monday, October 28th. They issued a "buy" rating and a $16.00 price target for the company. Northland Capmk upgraded Serve Robotics to a "strong-buy" rating in a research report on Friday, October 18th. Northland Securities upped their price target on shares of Serve Robotics from $16.00 to $23.00 and gave the stock an "outperform" rating in a report on Wednesday, January 15th. Finally, Seaport Res Ptn upgraded shares of Serve Robotics to a "strong-buy" rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Strong Buy" and an average target price of $19.50.

Serve Robotics Trading Up 1.1 %

Shares of Serve Robotics stock traded up $0.18 during trading hours on Friday, hitting $16.52. 9,515,402 shares of the company's stock traded hands, compared to its average volume of 12,526,326. Serve Robotics Inc. has a 12-month low of $1.77 and a 12-month high of $24.35. The company has a fifty day simple moving average of $14.58 and a 200-day simple moving average of $11.27.

Serve Robotics (NASDAQ:SERV - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.20) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.20). Serve Robotics had a negative net margin of 1,972.12% and a negative return on equity of 184.60%. The business had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.36 million. Equities research analysts anticipate that Serve Robotics Inc. will post -0.98 EPS for the current year.

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.