OMERS ADMINISTRATION Corp Acquires New Shares in Serve Robotics Inc. (NASDAQ:SERV)

OMERS ADMINISTRATION Corp bought a new stake in Serve Robotics Inc. (NASDAQ:SERV - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 31,900 shares of the company's stock, valued at approximately $431,000. OMERS ADMINISTRATION Corp owned approximately 0.07% of Serve Robotics at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SERV. Blue Trust Inc. bought a new stake in Serve Robotics in the fourth quarter valued at approximately $27,000. CIBC Private Wealth Group LLC bought a new stake in Serve Robotics in the fourth quarter valued at approximately $34,000. Bogart Wealth LLC bought a new stake in Serve Robotics in the fourth quarter valued at approximately $37,000. SG Americas Securities LLC bought a new stake in Serve Robotics in the fourth quarter valued at approximately $114,000. Finally, Stephens Inc. AR bought a new stake in Serve Robotics in the fourth quarter valued at approximately $142,000.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SERV. Northland Securities set a $23.00 price objective on Serve Robotics in a research note on Tuesday, February 18th. Cantor Fitzgerald started coverage on shares of Serve Robotics in a report on Thursday. They set an "overweight" rating for the company. Three analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Strong Buy" and an average price target of $18.67.

Insider Activity at Serve Robotics

In related news, CEO Ali Kashani sold 3,713 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $9.21, for a total transaction of $34,196.73. Following the sale, the chief executive officer now owns 3,225,852 shares of the company's stock, valued at $29,710,096.92. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian Read sold 7,000 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $8.03, for a total value of $56,210.00. Following the sale, the chief financial officer now directly owns 233,900 shares in the company, valued at $1,878,217. This represents a 2.91% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,834 shares of company stock worth $458,699. Company insiders own 5.50% of the company's stock.

Serve Robotics Trading Down 2.5%

SERV stock traded down $0.29 during trading hours on Friday, hitting $11.34. 6,267,107 shares of the stock were exchanged, compared to its average volume of 9,839,376. The firm has a market capitalization of $646.46 million and a P/E ratio of -10.70. The company has a 50-day simple moving average of $6.90 and a two-hundred day simple moving average of $10.90. Serve Robotics Inc. has a 12 month low of $1.82 and a 12 month high of $24.35.

Serve Robotics 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.