Two Sigma Investments LP Takes $815,000 Position in Serve Robotics Inc. (NASDAQ:SERV)

Two Sigma Investments LP bought a new position in shares of Serve Robotics Inc. (NASDAQ:SERV - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 60,404 shares of the company's stock, valued at approximately $815,000. Two Sigma Investments LP owned about 0.14% of Serve Robotics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. purchased a new position in shares of Serve Robotics in the 4th quarter valued at $27,000. CIBC Private Wealth Group LLC purchased a new position in shares of Serve Robotics in the 4th quarter valued at $34,000. Bogart Wealth LLC purchased a new position in shares of Serve Robotics in the 4th quarter valued at $37,000. SG Americas Securities LLC purchased a new position in shares of Serve Robotics in the 4th quarter valued at $114,000. Finally, Stephens Inc. AR purchased a new position in shares of Serve Robotics in the 4th quarter valued at $142,000.

Analyst Ratings Changes

A number of equities analysts have recently commented 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 on the stock. Northland Securities set a $23.00 price target on shares of Serve Robotics in a research note on Tuesday, February 18th. Three 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 company presently has an average rating of "Strong Buy" and a consensus target price of $18.67.

Serve Robotics Trading Up 13.0%

Shares of NASDAQ:SERV opened at $12.95 on Friday. The company has a 50 day moving average of $7.95 and a 200-day moving average of $11.13. The firm has a market cap of $738.24 million, a P/E ratio of -12.22 and a beta of 1.67. Serve Robotics Inc. has a twelve month low of $1.82 and a twelve month high of $24.35.

Insider Buying and Selling

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 have sold 58,164 shares of company stock worth $455,198 in the last ninety days. 5.50% of the stock is currently owned by corporate insiders.

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.

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