MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Takes $1.28 Million Position in Serve Robotics Inc. (NASDAQ:SERV)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Serve Robotics Inc. (NASDAQ:SERV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 94,712 shares of the company's stock, valued at approximately $1,279,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.21% of Serve Robotics at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. acquired a new stake in shares of Serve Robotics in the 4th quarter worth approximately $27,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Serve Robotics in the 4th quarter worth approximately $34,000. Bogart Wealth LLC acquired a new stake in shares of Serve Robotics in the 4th quarter worth approximately $37,000. SG Americas Securities LLC acquired a new stake in shares of Serve Robotics in the 4th quarter worth approximately $114,000. Finally, Stephens Inc. AR acquired a new stake in shares of Serve Robotics in the 4th quarter worth approximately $142,000.

Insider Activity at Serve Robotics

In other news, CFO Brian Read sold 3,000 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $12.15, for a total transaction of $36,450.00. Following the sale, the chief financial officer now owns 221,000 shares in the company, valued at $2,685,150. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 56,869 shares of company stock valued at $440,227 over the last ninety days. Insiders own 21.40% of the company's stock.

Serve Robotics Trading Up 0.4%

SERV stock traded up $0.05 on Thursday, hitting $12.70. 6,367,784 shares of the company's stock traded hands, compared to its average volume of 9,859,400. Serve Robotics Inc. has a 1-year low of $1.82 and a 1-year high of $24.35. The stock has a market cap of $723.93 million and a price-to-earnings ratio of -11.98. The stock has a fifty day moving average of $7.21 and a 200-day moving average of $10.94.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald assumed coverage on shares of Serve Robotics in a research note on Thursday, May 22nd. They issued an "overweight" rating for the company. Northland Securities set a $23.00 target price on shares of Serve Robotics in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Strong Buy" and an average target price of $18.67.

Serve Robotics Company 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.